Fartcoin surges past Bonk, becoming second-largest Solana-based memecoin with $1B market cap and bullish trend - IcoHolder.

Fartcoin has surged ahead of Bonk to become the second-largest Solana-based memecoin by market capitalization, following a 15% rally that pushed its market cap above the $1 billion threshold. At press time, Fartcoin is trading at $1.06, marking a significant milestone in its recent breakout.

The recent rally comes after Fartcoin consolidated between the $0.40 and $0.55 range from March 29 to April 9. On April 9, the memecoin broke out decisively, reaching an intraday high of $0.78, fueled by a surge in trading volume. This upward momentum continued, with Fartcoin hitting $0.97 on April 11 before briefly consolidating. Now, it has surpassed its previous highs, pushing beyond the psychological $1 resistance.

Currently, Fartcoin's price is trading well above both its 20-day exponential moving average (EMA) and its 50-day simple moving average (SMA), signaling a bullish trend. If the momentum continues, analysts are eyeing a potential price target of $1.20–$1.25, though the relative strength index (RSI) is nearing 70, suggesting a potential pullback may be imminent.

In contrast, Bonk has seen a slight decline in the past 24 hours, continuing to range between $0.0000095 and $0.0000138. While its moving averages are still aligned bullishly, the token has experienced subdued momentum compared to Fartcoin's explosive rise. The recent drop in trading volume has left the market uncertain, with Bonk's price still hovering near the top of its range, potentially signaling either a continuation of the current consolidation or a slow upward grind.

As Fartcoin continues its meteoric rise, it has overtaken Bonk, which currently sits at a market cap of around $980 million. The dynamics of the Solana memecoin space are shifting, with Fartcoin now firmly in the spotlight.