Whale Brake on Meme Coin Making 2x in a Week: Selling Price Suppresses! - Coin Newsletter

The meme coin challenging the market has come under price pressure following a major whale sell-off after demonstrating a strong rise in the last week.

According to the Lookonchain data analysis platform, a whale recently sold 3.7 million Fartcoins at a price of $0.9 each, causing a pressure of $3.32 million on the price.

While the overall cryptocurrency market has experienced tough days in the past week, FARTCOIN has shown a quite remarkable price performance. In the last 7 days, FARTCOIN has risen rapidly from $0.4207 to $0.9385, managing to bring smiles to its investors despite the negative atmosphere in the market.

However, the last sale made by the whale has put downward pressure on the price, and FARTCOIN has currently declined to 0.8798 dollars. This has raised concerns that panic selling among investors may be triggered.

In this short period, where the price has risen by approximately over 120%, the whale selling that followed the rise, despite the poor market conditions, drew attention to FARTCOIN.

Despite a general recovery trend in the market, such whale movements can particularly increase volatility in low-volume coins, and there is a prevailing sentiment among investors that such large sells could negatively impact prices in the short term.