Solana Meme Coin Fartcoin Hits ATH With 70% Gain: Will It Hit $2 Next?
The post Solana Meme Coin Fartcoin Hits ATH With 70% Gain: Will It Hit $2 Next? It first appeared on Coinpedia Fintech News
Meme coins have taken the crypto world by storm by offering massive returns in a short amount of time and Fartcoin is the latest to grab the attention of a Solana-based AI memecoin. This week, Fartcoin hit an all-time high (ATH) of $1.60 following an impressive 70% rally. Despite the excitement, some analysts predict a setback before the next big operation.
Fartcoin hit a new ATH
Fartcoin, with humor-based branding and ties to viral trends, stands out as the Solana meme coin with a loyal community. Despite the lack of outstanding features, the price performance was exceptional.
Since its launch in October, the token's value has skyrocketed, rising 700% in just one month, raising its market cap to $1.48 billion.
Adding to the momentum, Coinglass data shows that open interest (OI) for Fartcoin rose by 22% this week, reaching $182.4 million. This flow of demand is the key driver behind the recent price rally.
AI Meme is taking coins.
As traditional meme coins like DOGE and SHIB struggle to regain their past success, newer tokens like Fartcoin and AI16Z are gaining attention. AI16Z, another Solana-based token, has seen a massive 176% price increase in one week and now has a market cap of $2.17 billion.
Fartcoin is currently the fifth largest AI meme coin on the Solana network, and if its momentum continues, it could join AI16Z in the $2 billion market cap club. Other AI-themed tokens such as Freysa AI (93% growth) and Zerebro (82%) are experiencing strong growth.
Can Fartcoin Reach $2?
Fartcoin has grown an incredible 2,960,840% in the last three months, boosting investor confidence. Analysts believe the token could reach $2 if it continues to break key resistance levels around $1.67.
However, the current area above the Bowling Bands indicator suggests that it may be overbought, indicating a possible price correction. And, if buyers remain strong, the token could reach $2. However, if selling pressure builds, the price may drop to $0.53.
