A popular crypto analyst is still bullish on a memecoin that has already lost more than 4,000% in value in two months.
Pseudonymous trader Altcoin Sherpa tells his 236,500 followers on social media platform X that he is still accumulating the Solana (SOL)-based memecoin Fartcoin (FARTCOIN).
“I buy about $0.80 and am getting closer to my purchases. Total purchases = some for $1, more for $0.80, and I’ve also moved some other purchases to $0.65 in case they come. However, I want my average to be around $0.80 or less. I still think it’s a good meme and I hope there isn’t any uproar/act/etc after it’s posted. causes.”
FARTCOIN is trading at $0.81 at the time of writing. The 136th-ranked crypto asset by market capitalization is down more than 11% in the last 24 hours but is up around 4,000% in the last two months. The memecoin was launched at the end of October.
However, according to Altcoin Sherpa, there is a catch.
“Honestly, I’m a bit worried that this deal is a bit too consensus driven to be honest. It’s a fantastic meme and applies to many incredible narratives, but it seems almost “too” obvious. But I’ll still shoot and add.”
Regarding Ethereum (ETH), the analyst said…
