Solana’s Fartcoin Surges 60% But Few Holders Are Calling The Shot

Solana-based memecoin Fartcoin (FARTCOIN) has emerged as one of the best gainers since US President Donald Trump’s tariff pause announcement on April 9.

FARTCOIN’s 70%-Plus Rally in April Supported by Just 135.65K Holders

FARTCOIN, which derives its valuation from speculative traders, surged 60% after Trump imposed a 90-day pause on tariffs on non-retaliating countries. In doing so, it outperformed the broader crypto market, which gained 11.55% in the same period.

The broader risk-on market suffered huge losses earlier in the month, with the crypto market losing up to $320.47 billion due to Trump’s reciprocal tariff announcement on April 2.

Nonetheless, FARTCOIN was an exceptional case, rising despite traders’ lower risk appetite. Its month-to-date gains now stand at around 72.50%, lacking a sufficient holder base.

According to SOLSCAN, the total count of Fartcoin holders was just 135,654 as of April 10, less than a quarter of Solana’s top memecoin Official Trump’s (TRUMP) 638,350 holders.

Fartcoin’s on-chain evidence suggests concentrated ownership, suggesting that its recent gains have likely stemmed from a small group of large investors accumulating tokens, rather than broad retail participation.

In other words, FARTCOIN carries severe selloff risks should a small portion of investors decide to secure their profits.

FARTCOIN Technical Analysis Indicates Further Gains in April

FARTCOIN has staged a breakout from an inverse head and shoulders pattern on its 12-hour chart, suggesting further gains in April.

For the unversed, an inverse head-and-shoulders (IH&S) pattern forms when the price makes three troughs in a row atop a common neckline resistance. The middle trough (head) is typically deeper than the other two (shoulders).

As a rule of technical analysis, the IH&S pattern resolves when the price breaks above the neckline and rises by as much as the maximum distance between the head and the neckline.

Applying the same rule on the FARTCOIN/USDT chart shows $1.96 as its primary upside target.

The bullish outlook will likely stand invalid if FARTCOIN retreats below the neckline.

As of April 10, it tested the 0.236 Fib retracement level at around $0.80 for a potential pullback, with its oversold relative strength index (RSI) furthering the downside outlook.