Fartcoin , a meme token built on the Solana blockchain, has surged past Bonk to become the second-largest meme coin on the network. Its market capitalization has risen to $1.08 billion after a 21% price increase in the past 24 hours. The coin now sits just $700 million behind Official Trump (TRUMP), the leading Solana meme coin, and ranks 62nd among all cryptocurrencies by market cap.

Initially launched on Pump.fun, Fartcoin saw a rapid rise to a $2.15 billion market cap before the broader crypto market was hit by the LIBRA scandal and President Trump’s trade war. The token dropped to a low of $217 million in March. Since then, it has climbed by nearly 389%, vastly outperforming Bitcoin, which gained only 8.7% over a similar period.

The coin was originally conceived by an AI agent named Truth Terminal, known for its provocative posts on X (formerly Twitter). The AI received a $50,000 Bitcoin donation from investor Marc Andreessen after proposing the idea for Fartcoin as part of its musings on the ideal meme coin. Truth Terminal’s posts are approved by a human handler who also manages its interactions.

The recent rally has been driven in part by large-scale purchases. According to blockchain analytics platform LookonChain, three major buyers acquired a combined 6.25 million Fartcoin at prices ranging from $1.09 to $1.15, spending more than $5.5 million. The token’s 24-hour trading volume has now exceeded $400 million, more than doubling in just one day.

Meanwhile, Bonk has gained just 3.9% over the past month and remains in a narrow trading range between $0.0000095 and $0.0000138. Its market cap currently stands around $1.05 billion, now behind Fartcoin.

Fartcoin’s technical indicators suggest that momentum remains strong but may be peaking. Its RSI is at 67.6, approaching overbought levels. The MACD chart shows bullish activity, though the price appears to be following an ascending channel pattern, which often signals a pause or correction. Bollinger Bands also show the token trading at the upper edge, suggesting a possible near-term pullback. Analysts point to the $0.74 level as key support if the price retreats.

The TRUMP token has been declining amid political volatility, dropping 21.6% over the past 30 days. It notably lost 15% in value following President Trump’s Liberation Day tariff announcement, while Bitcoin slipped by 5.2% during the same period.