- A whale dumped WIF, and BONK to increase Fartcoin’s long position to $9.3 million.
- The coin pumped 52% on Christmas Eve and topped AI agent mindshare.
A whale has doubled down on Fartcoin [FARTCOIN], dumping his dogwifhat [WIF] and Bonk [BONK] for the AI memecoin.
According to blockchain data analytics firm, LookOnChain, the large player exchanged $1.03 million WIF and $833K BONK for Fartcoin. It now holds 7.55 million Fartcoin, worth $9.36 million as of this writing.
This suggested that the whale believed AI memecoins could outperform their legacy counterparts in 2025. But why Fartcoin and not other AI tokens?
Fartcoin tops December mindshare
Source: Cookie.fun
Some traders and investors tend to pick strong performers based on mindshare or trading volume, which both drive liquidity.
Since mid-December, Fartcoin has topped AI agent mindshare at 22% per Cookie.fun, a data aggregation platform for agents. Only AIXBT came close at 8%, while Virtual [VIRTUAL] came third at 5%.
With the massive mindshare, Fartcoin has enjoyed a strong price performance, flipping even the Goatseus Maximus [GOAT]. In fact, Fartcoin and GOAT have gained traction because of endorsement by the AI agent Truth Terminal.
So far in December, the coin has rallied nearly 350%. After the whale move, the AI meme coin pumped 52% on Christmas Eve, perhaps making it one of the outliers that enjoyed a Santa rally.
Source: FARTCOIN/USDT, TradingView
The recent pump has effectively erased the early losses made in December but was close to hitting the range-highs near $1.4.
Any price rejection at the range high and a drop to the mid-range or range-lows could be a great buying opportunity if it maintains a strong mindshare.
That said, derivatives data showed bullish market sentiment, with trading volume up 120% and open interest (OI) spiking to 45% in the past 24 hours.
Read Fartcoin [FARTCOIn] Price Prediction 2024-2025
This underscored that the Christmas Eve rally was also driven by massive speculative trading in the Futures market.
At press time, the short-term sentiment was still bullish, as shown by the overwhelming longs vs shorts per the Long/Short ratio.
Source: Coinglass