On December 18th, the Solana-based meme coin Fartcoin reached an all-time high (ATH) of $1.02, briefly pushing its market capitalization above $1 billion. This occurred during a slump in the broader crypto market due to concerns over tighter monetary policy from the US Federal Reserve. The Fed’s announcement of a 25 basis point interest rate hike and predictions of fewer rate cuts in 2025 caused major cryptocurrencies like Bitcoin and Ethereum to fall by 4% and 5%, respectively, in the past 24 hours.
Despite this downturn, Fartcoin managed to remain in the green, posting a 21% gain. However, its rally did not sustain, and the coin retracted to $0.7158 before rebounding again. As of now, it is trading at $0.9889, 5.4% below its ATH but still up 17.6% over the past day.
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