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The popular Solana meme coin Fartcoin price is on the rise, gaining 20% surge today despite the crypto market cash. Although the bulls have not been favoring the market, this meme-themed crypto is booming with gains from pure hype and technical factors. Interestingly, the experts anticipate it to surge higher due to the same hype. Is the next target $1? Let’s discuss this.
Why is the Solana Meme Coin Fartcoin Price Rally 20% Today?
Fartcoin is one of the most popular Solana meme coins, and its unique name has caught investors’ attention. While the rest of the crypto market is crashing, especially the meme-themed ones, the Fartcoin price is up 20% today.
More importantly, its price has surged nearly 80% over the week, currently trading at $0.8416 with a market capitalization of $841.89M.
This happened as the investors’ interest returned in the token, as explained by the rising open interest. More importantly, the majority of the capital is placed in long positions, revealing investors’ confidence in the asset for further rise.
At the same time, shorts are liquidating, resulting in the traders rebuying the asset and pushing the price. Interestingly, a surge in all the Solana coins, including Bonk, Dogwifhat, and others, is noticed today.
The crypto community anticipates that this marks the recovery of investor interest in these struggling digital assets.
Fartcoin Price to Hit $1.2, Here’s Why
As the Coinglass liquidation data hints at a further rise, various crypto analysts anticipate this Solana meme coin’s further rise. The token has previously achieved a high of $2.61 three months ago, so a $1 target is feasible. However, uncertainty still exists as the Trump trade war influences investors’ sentiments.
Despite the odds, crypto analysts like Bitcoinconseus and others predict a $1.2 target. According to their analysis, the Fartcoin price chart is forming a bullish reversal pattern, where the horizontal resistance is already broken. The token can surge to $1.2 or higher if the bullish momentum continues amid high volume.
Crypto General, an analyst even anticipates that it will hit $10 in the long crypto bull run, claiming that Fartcoin has bottomed out and consolidated above the breakout level. Another breakout from here would result in a $10 milestone.
The post Solana Meme Coin Fartcoin Price Surged 20% Today, Will it Hit $1 Next? appeared first on CoinGape.
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