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Simon Chandler
Author
Simon Chandler
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Why Trust Cryptonews
Fartcoin has jumped by 8% in the past 24 hours, rising to $0.9273 as the crypto market as a whole actually drops by 1% today.
FARTCOIN is now up by 61% in the past week and by a whopping 169% in the past month, making it the best-performing top-100 token across these time timeframes.
And what’s interesting is that its gains today have come after a couple of whales offloaded significant sums of the coin, potentially expecting an imminent selloff.
Yet many traders and analysts are expecting Fartcoin to break the $1 barrier in the near term, with the meme token also having a very positive long-term prediction.
Fartcoin Faces Massive Whale Exit – But Analysts Still See Triple-Digit Upside
Whale tracker Lookonchain flagged a couple of significant FARTCOIN sales in the past few days, raising the alarming possibility that the meme token would soon be plunging.
Yet it has continued to climb higher, as if the coin has entered a new phase of price discovery.
Such is its momentum right now that more than a few Crypto Twitter profiles are predicting that it will soon pass $1, with some also saying that now is the last chance to buy it below this level.
However, today has also seen another whale sell a considerable quantity of FARTCOIN, reminding us that the coin’s ascent could be stalled at any time if enough large traders decide to take profits.
And if we look at FARTCOIN’s chart, it is in an overbought position at the moment, implying that it doesn’t have too long left before it should come down again.
For instance, its 30-period average (orange) has been above the 200-period (blue) for almost a month, suggesting that a selloff may be coming.
Likewise, its RSI (purple) topped 75 a few days ago and remains high, another sign of relative overbuying.
On the other hand, the token is still 62% down on its ATH of $2.48, so some may argue that it’s still very much undervalued.
If so, it could potentially reach $1.50 in the next month or so, particularly if the recent tariff situation stabilizes further.
Alternative Alts for Market-Beating Gains
Because FARTCOIN could be on the brink of a comedown, some traders may prefer to turn to newer alternatives already.
Finding the most promising new coin, however, can be tricky, given the sheer number of tokens available.
But one way of increasing your chances is to look for big presales, with heavily subscribed sales sometimes indicating that the corresponding coin may rally strongly once it lists for the first time.
This is something that could happen with Solana-based layer-two platform Solaxy (SOLX), which has now raised just over $30 million in its hugely successful ICO.
As Solana’s first L2 network, Solaxy will provide users with low transaction fees and superior confirmation times, helping them to avoid some of the delays and congestion that can affect its parent chain during peak periods.
Solaxy will also offer instant bridging between itself and Solana, enabling it to become an integrated part of the Solana ecosystem.
This should see it become a key ecosystem for meme tokens and DeFi, which continue to be a key part of Solana’s network.
And given that you will need to hold SOLX to pay for the L2’s transaction fees, demand for the token could be high.
Investors can join its sale by visiting Solaxy’s official website, where SOLX currently costs $0.001694.
This price will rise later today and will continue to rise until the sale ends, at which point the coin will list on exchanges.
