Prominent cryptocurrency analyst ALTCOIN SHERPA has shared insights on two Solana-based meme tokens, predicting significant price movements in the near future.
In a recent analysis shared on social media platform X, ALTCOIN SHERPA, who boasts a following of 244,000, highlighted the potential of artificial intelligence (AI)-based meme token Fartcoin (FART). The analyst believes Fartcoin could break through the $1 resistance level, following its impressive 220% surge since March 18, 2024, when it was valued at $0.267. At the time of writing, Fartcoin is trading at $0.871.
“Don’t have much of an opinion on Fartcoin at current level; would probably wait to buy on a break of $1 or at $0.70. Still think this one goes much higher later but not sure in the short term. Regardless, hot air rises and this is the meme of the cycle in my opinion,” the analyst stated.
The analyst also emphasized the possibility of Fartcoin retracing to the .382 Fibonacci retracement level at $0.70 before resuming its upward trajectory. Fibonacci retracement levels are commonly used in technical analysis to identify potential support and resistance levels.
In addition to Fartcoin, ALTCOIN SHERPA weighed in on Popcat (POPCAT), another Solana-based meme token. The analyst suggested that Popcat could continue its decline until reaching the Fibonacci retracement level around $0.23, after which it may reverse direction and experience a significant rally. Currently, Popcat is trading at $0.24, down 6.9% over the past 24 hours.
“POPCAT hoping to grab an entry at the $0.23 region, let’s see if it comes. Might scalp before then though,” the analyst added.
As the meme token market continues to captivate investors, ALTCOIN SHERPA’s analysis provides valuable insights into potential opportunities for traders.
Source: Altcoin Sherpa/X, Altcoin Sherpa/X