Despite FARTCOIN dropping, derivative traders still expect it to hit $2.

Fartcoin was down 11% in the last 24 hours. The price drop may have resulted from the resistance at $1.53 and the declining open interest. However, derivative traders think $2 target is possible.

Fartcoin [FARTCOIN] has recently been making waves in the meme sector, together with SPX6900, despite having launched last year during the crypto AI memecoins hype.

The memecoin has been trending to the upside in the past week, but the last 24 hours, as of press time, proved to be difficult.

At the time of writing, FARTCOIN had dropped by more than 11%, with the price trading at $1.53. Apart from the usual profit taking of whales, what else could have influenced this drop?