88% Up and Still Under the Radar – Is Fartcoin Hiding a Bigger Move? Simon Chandler | usagoldmines.com

The price of Fartcoin has jumped by 16% today, surging to $1.06 as the crypto market as a whole falls by 1.5% in the past 24 hours.

FARTCOIN is now up by 88% in the past fortnight and by 109% in the last 30 days, as whales begin piling into the Solana-based meme coin once again.

And given that it remains down by 57% in relation to its ATH of $2.48, it has plenty of scope to continue rising in the near future.

This is particularly true if the wider market continues its recent recovery, while Fartcoin itself could also benefit from a Coinbase listing.

88% Up and Still Under the Radar – Is Fartcoin Hiding a Bigger Move?

It seems that traders have (re)turned to Fartcoin in order to make some quick profits in what remains an uncertain market, with the token now up by 197% since hitting a one-month low of $0.356 on April 3.

It enjoyed a big climb almost a week on from this date, before experiencing another surge over the weekend, led by significant whale purchases.

And whales continue to buy FARTCOIN even after recent increases, suggesting that it could continue to rally over the coming days.

And if we look at its four-hour chart, we see that FARTCOIN continues to enjoy some very strong momentum.

Its relative strength index (purple) has just passed 70, signalling increased buying pressure, while also warning that the coin is entering an overbought position.

At the same time, Fartcoin’s 30-period average (orange) has resumed rising further above the 200-period (blue), another indicator of buying pressure.

But because the shorter term average has been high for a couple of weeks now, it’s possible that FARTCOIN could suffer a selloff later this week.

This is what some analysts are beginning to predict, including analysts that had been hyping the token a few weeks ago.

Yet the crypto – and meme token – market often defies logic, so it’s also possible that FARTCOIN could continue its rise in the near term.

And in the longer term, the approval of altcoin ETFs and an improvement in the global trading situation could help to ignite a new bull market, which would send the token increasingly higher.

It could reach $1.50 by the end of May, before entering Q4 at just over $3 – a 200% move from current prices.

Alternative Altcoins for Market-Beating Gains

Fartcoin is a meme token with limited utility – there always remains a risk that large traders could eventually get bored of it, dooming it to a slow (or quick) death.

However, there are newer coins in the market that come with stronger utility and fundamentals, and that therefore arguably have more staying power.

One of these is layer-two network Solaxy (SOLX), a Solana-based coin that has now raised a whopping $31 million in its ongoing presale.

Launching soon, Solaxy is Solana’s first true layer-two network, offering users very low fees and ultra-fast transactions.

Solaxy will also enable instant bridging itself and Solana, with its network adding compatibility with other chains over time, expanding its reach and potential.

Even with recent upgrades, Solana continues to witness delays and dropped transactions, so there’s a space for an L2 such as Solaxy to make entering the Solana ecosystem easier.

Its native token SOLX will pay for transaction fees, while holders will also be able to stake it for a passive income.

It could therefore attract huge demand, pushing its price up over time.

Investors can still join its sale at the Solaxy website, where SOLX is currently available at $0.001702.

This price will continue rising until the sale ends, so traders wanting the biggest possible returns should act sooner rather than later.

The post 88% Up and Still Under the Radar – Is Fartcoin Hiding a Bigger Move? appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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