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FARTCOIN briefly dropped below $0.29, causing the largest number of long liquidations across the entire network in the past hour.

12 hours ago

**December 18th Update** Per GMGN monitoring (https://t.me/gmgnaibot?start=i_m4TE56o8), Solana-based meme coin FARTCOIN posted an ~8.4% short-term decline, hitting a low of $0.28 before settling at $0.29 in current trading. Additional data from HyperInsight (https://t.me/HyperInsight) shows FARTCOIN’s liquidations on Hyperliquid made up roughly 38% of the network’s total. The largest short whale (address 0x7fd) has been closing positions over the past hour: its current position size is ~$7.79 million, with an unrealized profit of ~$1.75 million (226% return). The whale’s liquidation price is $0.297, putting it just ~2.3% away from being liquidated. Arkham monitoring further notes the address is suspected to belong to web3 asset manager Fasanara Capital— which oversees over $3.5 billion in assets and has a team focused on cryptocurrency arbitrage trading and lending.
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