Crypto Whale Accumulates 1.68M FARTCOIN Ahead of Coinbase Listing

Recent on-chain data shows sustained interest in FARTCOIN, a rising memecoin on Solana. A crypto whale withdrew 14850 SOL from Binance, converting it into 1.68 million FARTCOIN.

A crypto whale has withdrawn 14,850 SOL from Binance and converted it into 1.68 million FARTCOIN, according to on-chain data.

The whale, known for performing large transactions that often precede major market moves, is being monitored by crypto analytics platform Lookonchain.

During the transaction, which took place on June 12, SOL was trading at around $160, based on price data from Binance and Coinbase. The transaction occurred as Solana’s daily trading volume surged by 3.2%, reaching $2.1 billion.

The transactions saw the whale create a new wallet, 3NgFx6, and use 14,850 $SOL (about $2.48 million) to buy 1.68 million $Fartcoin.

The move comes ahead of FARTCOIN’s listing on Coinbase, which is expected to increase demand for the meme coin.

“[email protected] withdrew 14,850 $SOL from #Binance and deposited it into #Coinbase. Then used 14,850 $SOL to buy 1.68M $Fartcoin and the remaining $SOL to pay transaction fees,” Lookonchain noted.

The transactions come as investors grow increasingly interested in altcoins ahead of the 2025 altseason. Moreover, the U.S. has been rolling out favorable crypto regulations, which could further boost demand for altcoins.

FARTCOIN has been a major talking point in recent weeks, especially after rumors that it could be listed on Coinbase. The meme coin is currently valued at $1.33 billion, placing it among the largest mid-cap tokens. It also has a daily trading volume of $376 million.

After weeks of bullish momentum, FARTCOIN faced resistance near the $1.5 mark. However, the token has gained around 40% in the past seven days. It is now trading at $1.42, while Bitcoin and Ethereum are showing renewed strength.

Meanwhile, Solana is pressing against a major resistance zone just below $175, a barrier that has rejected multiple advances. The broader market is helping to lift sentiment, but Solana remains far from previous all-time highs.

At the moment, SOL is changing hands at around $165.80 on the daily time frame after regaining the 50-day SMA at $160.99. The price is now getting closer to the 100-day SMA at $175.70, a level that has been a critical area for a long time.

An upsurge from the support area of $142-$145 has formed a bullish configuration, thus, the price is now prepared to stretch the declining resistance twice.

A successful break above $175 may trigger a revisit of the target area of $190-$200. However, if no new high is formed and we get a downward dynamic, SOL might come down to the support area of $155-$160.

With volatility increasing in the altcoin market, traders should keep an eye on these technical levels for decisive moves in the coming days.