A closely followed Crypto analyst believes that one red-hot meme token token that operates in Solana (SOL) could continue to rise even further.
Pseudonym Analyst Altcoin Sherpa say His 243,800 followers of social media platform X could see artificial intelligence (AI)-based Fartcoin (Fartcoin) increase by more than 47% from its current value.
“I would rather buy a high (a dollar break) or a low (a dollar break) for the Fartcoin. This would either be charged or a pullback due to the big move that would rise to $1.25. I don’t know where I’m going in the short term.
Looking at his chart, the trader suggests Fartcoin makes another attempt to break through the resistance at $0.96. However, he says that meme assets could initially return to the .382 Fibonacci retracement level at $0.70.
Fartcoin reached its $0.265 minimum on March 18th, trading at $0.8542 at the time of writing, up 222% in a month.
Next, the analyst say It is likely that Sol-based Memecoin Bonk (Bonk) is forming the bottom of the local market and is preparing for a breakout.
“In my opinion, there is a relative short-term bottom. At this point, many strong alts are in this range for about a month. In my opinion, we’re making a stronger move in one month.”
Bonk is trading at $0.00001182 at the time of writing, down 1.1% over the past 24 hours.
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