A popular crypto analyst is still bullish on a new memecoin that has already risen nearly fifty-fold in less than three months.
The trader, known under the pseudonym Altcoin Sherpa, believes that the Solana (SOL)-based memecoin Fartcoin (FARTCOIN) will continue to rise, but notes that he has some concerns.
“I decided to downsize yesterday and will be patient with Fartcoin from now on. I still think it’s an amazing meme and it’s going to go much higher, but I’d like to see it fluctuate even more and make sure it doesn’t suffer the same fate as the other big memes that are currently floating on Binance had. Virtual and aixbt are promising, but I feel like this is a little different. I’ll take a look at it, but will think about adding more later.”
Fartcoin is trading at $0.954 at the time of writing. The 122nd-ranked crypto 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 its strategy for investing in artificial intelligence (AI) tokens.
“Most crypto AIs will do pretty well in this cycle; You just have to choose your horses…
