One prominent cryptocurrency analyst remains optimistic about the new memecoin, which has already risen nearly 50-fold in less than three months.
A pseudonymous trader known as Altcoin Sherpa said he believes Solana (SOL)-based memecoin FARTCOIN will still rise, but has some concerns.
“I decided to scale down on this yesterday and will be patient with Fartcoin going forward. I still think this is an amazing meme and will go much higher. But I’d like to see it dissipate more and make sure it doesn’t suffer the same fate as other big memes that had a permanent future on Binance. Virtual and aixbt are promising, but seem a little different from this. We’ll be watching, but may consider adding more in the future.”
Fartcoin is trading at $0.954 at the time of this writing. The 122nd-largest cryptocurrency asset by market capitalization is down nearly 9% in the last 24 hours, but is up more than 3,750% since its launch in late October.
Altcoin Sherpa also outlines an investment strategy for artificial intelligence (AI) tokens.
“Most cryptocurrency AI will perform quite well this cycle. All you have to do is choose your horse. Concentrate > Spray and pray on-chain > (Centralized exchange) Coins as well, In other words, buy 5 good chain bags. “Don’t buy 20 coins like FET, AR, WLD, etc.”
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