Fartcoin Returns to Be One of the Top Losers After Plummeting 10%

Fartcoin has again become one of the top losers after plummeting more than 10.57% to US$1.03 in the last 24 hours, Friday (15/08). The token is currently facing bearish pressure from three main reinforcing factors.
First, the profit-taking action by large investors or whales on August 13, where 1.459 million FARTCOIN was sold for approximately US$1.57 million, triggered instant selling pressure.
On-chain data shows that ownership by "smart money" dropped by 40% in a month, while balances on exchanges increased by nearly 9.5% in a week, indicating more holders are preparing to sell.
Secondly, technically, the price has broken below the 30-day SMA and the 7-day EMA, with the RSI still weak below the 50-day average, and the MACD only showing a slight bullish divergence.
The loss of support at US$1.06 opens up the potential for a decline to the US$0.89–US$0.95 area, especially if the price closes below the US$1.02 pivot, which could trigger a faster decline.
Third, the overall weakening condition of the crypto market. Crypto capitalization fell by 2.62% to US$4.04 trillion, and the increasing dominance of Bitcoin has caused altcoins, particularly memecoins like Fartcoin, to be more significantly affected by high volatility and capital rotation towards assets considered safer.
Overall, the combination of whale sell-offs, weak technical signals, and negative market sentiment creates an environment prone to further corrections.