A well-known crypto analyst remains optimistic about a memecoin that has surged by over 4,000% in just two months. Altcoin Sherpa, a pseudonymous trader with a significant following on X, recently shared his thoughts on Fartcoin (FARTCOIN), a memecoin based on the Solana (SOL) blockchain.
Altcoin Sherpa informed his 236,500 followers on X that he is continuing to accumulate Fartcoin, despite its recent price fluctuations. He mentioned that he is strategically buying at different price levels, aiming for an average price of around $0.80 or lower. The analyst expressed confidence in the meme potential of Fartcoin but also acknowledged some concerns about the trade being too consensus-driven.
Fartcoin is currently trading at $0.81, experiencing a slight dip of over 11% in the last 24 hours. However, the memecoin has seen an impressive increase of approximately 4,000% in the past two months since its launch in late October.
Altcoin Sherpa also shared his thoughts on Ethereum (ETH), highlighting the importance of ETH as a gateway to alt season but expressing uncertainty about its current direction. He emphasized the need for patience and vigilance, especially in light of potential Bitcoin (BTC) price movements.
In the ever-evolving world of cryptocurrency trading, staying informed and cautious is key. Altcoin Sherpa’s insights provide valuable perspectives for investors looking to navigate the volatile crypto market. As Fartcoin continues to make waves and capture the attention of traders, it will be interesting to see how this memecoin’s journey unfolds in the coming days and weeks.
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