FARTCOIN whale takes profit and reduces position, turning a floating loss of $84,000 into a floating profit of $42,000 within two days

A whale address actively involved in FARTCOIN (0x10a3c) today completed partial profit-taking operations. According to on-chain monitoring data, this address, known as the “Ironclad Bull,” reduced its holdings by 93,992.7 FARTCOIN at 11:00 on January 12, but did not fully liquidate, still maintaining a 10x leveraged long position of 11.65 million coins. Notably, this address achieved a reversal from floating loss to floating profit within just two days.

Whale Operation Timeline

Based on relevant information, this address’s FARTCOIN layout began on January 10. At that time, it opened a position with 19.75 million FARTCOIN (worth approximately $7.76 million) using 10x leverage, initially facing a floating loss of $84,000. Just 48 hours later, as FARTCOIN’s price increased, this address not only reversed the initial loss but also realized a floating profit of $42,000.

Why Choose FARTCOIN

FARTCOIN is a meme coin on the Solana chain, launched for trading on October 23, 2024. According to the latest data, FARTCOIN’s current price is $0.394214, with a market cap of $394.21 million, ranking 113th in the cryptocurrency leaderboard. It has increased by 4.97% in the past 24 hours, indicating strong market interest.

As the leading meme coin on the SOL chain, FARTCOIN has recently attracted attention from several large holders. Besides this “Ironclad Bull,” other whales on the chain have also been deploying FARTCOIN and PUMP, among other SOL-based meme tokens during the same period. This reflects a bullish outlook on the SOL meme ecosystem, with some large investors viewing this as the next hot spot comparable to Ethereum’s PEPE.

Risks Behind Profit-Taking and Reducing Positions

Profit-taking strategy

This address’s profit-taking behavior indicates a strong risk management awareness. Choosing to reduce positions when floating profit reaches $42,000, rather than fully liquidate, demonstrates a balance between “locking in gains” and “continuing to be optimistic.” The reduction ratio is about 8% (93,992.7 coins / initial position of 1,086,505.3 coins), representing a relatively moderate profit lock-in.

Ongoing leverage risk

It is worth noting that this address still holds 11.65 million coins with a 10x leverage long position. In the context of high volatility typical of meme coins, this means the account still faces significant liquidation risk. Based on the current average entry price of $0.3908, if FARTCOIN drops more than 10%, this position could face liquidation pressure.

Market Context and Risk Reminder

According to the latest data, FARTCOIN’s 24-hour trading volume reached $88.80 million, indicating relatively sufficient market liquidity. However, the characteristic high volatility of meme coins far exceeds that of mainstream cryptocurrencies. From related information, the market holds both bullish voices and traders deploying short positions at high levels for FARTCOIN. Such divergent views often suggest the potential for sharp price fluctuations.

Additionally, data on liquidations over the past 24 hours show that the largest single liquidation occurred on Hyperliquid’s FARTCOIN-USD trading pair, amounting to $1.4637 million. This indicates that leveraged trading on FARTCOIN has become a key focus in the market, with a high concentration of risk.

Summary

This whale address’s actions demonstrate the attitude of on-chain big players amid the meme coin craze: they are optimistic about the upward potential of SOL chain meme tokens but also maintain a cautious approach to risk. While profit-taking of $42,000 was executed, a large long position was retained, reflecting confidence in FARTCOIN’s future trend. However, the 10x leverage setup also means this address is under considerable risk. For ordinary investors, the high volatility and leverage environment of meme coins warrant caution. When market enthusiasm is high, it is often the riskiest moment.