A cryptocurrency analyst maintains a positive outlook on Fartcoin (FARTCOIN), which has gained over 4,000% in value in the last two months. He noted ongoing purchases of this meme coin.
Fartcoin Performance and Buying Strategy
Sherpa revealed that his purchases of Fartcoin are concentrated at price levels of $1, $0.80, and $0.65, aiming to keep his average cost below $0.80. At the time of writing, Fartcoin was trading at $0.81. Launched at the end of October, this meme coin saw a 4,000% value increase. However, it faced an 11% decline in the last 24 hours and ranks 136th by market capitalization. He mentioned that despite the apparent opportunity, he is increasing his purchases.
Ongoing Uncertainty Regarding Ethereum
Regarding Ethereum, Sherpa adopts a cautious approach. He indicated that if Bitcoin surpasses significant price levels, Ethereum may also experience a decline. He stated that patience is necessary, as there is no clear signal for an altcoin season.
Rising Popularity of Meme Coins
The popularity of meme coins in cryptocurrency markets continues to rise. However, experts caution that these assets can experience both rapid gains and losses. Fartcoin's recent performance raises questions and attention, but it is advised that investors carefully assess the risks involved.
Fartcoin's recent rise and potential risks draw interest to the meme coin market. Investors are advised to weigh all factors carefully and stay informed about the volatility of these assets.
