Fartcoin (FART) Price Consolidates above $1 Mark, Mirroring Bullish Solana Price Action

Fartcoin (FART) price is currently trading at $1.23334, which marks an impressive recovery from its early Q1 lows.

Fartcoin (FART) price has been consolidating above the $1 mark as the meme coin recovers from its early Q1 lows. If the token doubles in value from here, it would breach its all-time high (ATH) of $2.75 and set a new one.

Despite its playful name, Fartcoin has captured the attention of both serious traders and meme-loving retail investors. As such, doubling in price is not far-fetched given its recent price action, which posted three consecutive months of gains since March.

Solana's price, which performance has historically influenced meme coins built on its blockchain, has added 22% monthly gains on its road to $200. If the Layer 1 blockchain tests this target level, Fartcoin, which typically exhibits correlated price movements, is also likely to experience a mid-term rally.

Fartcoin Explodes in Social Activity

Fartcoin has also exploded in popularity across X, Telegram, and Discord in recent weeks, with @TheSolanaPost highlighting a sharp spike in community engagement, which mirrors the meme coin's recent bullish price momentum and growing investor interest.

"Fartcoin continues to top the charts in social engagement across the Pumpfun ecosystem, with numbers still climbing," said TheSolanaPost on X.

Several other crypto influencers also weighed in, including CryptoGodJohn who called the bullish wave, a "last chance" to grab Fartcoin under $1.50 and urged his followers not to miss out on the next meme rally.

Meanwhile, another X influencer gave a parabolic Fartcoin price prediction of $10 by the current cycle's end. He attributed the bold claim to surging meme coin activity, an overall bullish market and FART's recent price breakout.

"Fartcoin to $10," stated DipWheeler to his X followers.

Derivatives Data Shows Traders Are Bullish

According to Coinglass data, there was a 10% sharp increase in open interest over the last 2, which indicates the behavior of confident traders deploying leveraged positions as they anticipate sustained price rallies.

With two critical liquidation zones forming at $1.70 and $2.40, traders are now closely monitoring these levels for potential breakout signals. Should bullish momentum continue and open interest hold steady, a decisive move above $1.70 could ignite a strong rally towards the $2.70 mark.

Even with a potential price pump around the corner, buying pressure still needs to remain intact and defend key levels like $1.00.

Still, Fartcoin has strong fundamentals, an engaged community, and interest from KOLs and traders. A move above $2.744 in Q2 looks increasingly "reasonable", especially with Bitcoin market cap recently hitting a new all-time high.