Despite the volatility in the cryptocurrency market, certain altcoins continue to capture traders' attention. In this context, particular focus has been placed on meme coins developed on the Solana network, such as Fartcoin and Bonk.
Fartcoin: Impressive Short-term Performance
Fartcoin has caught investors' attention with impressive upward momentum in the short term. According to analyst Altcoin Sherpa, the token has seen an increase of approximately 222%, currently trading at $0.8542. He predicts that the token could rise an additional 47% if the $0.96 resistance level is tested. However, if the price fails to exceed this level, the possibility of a correction down to $0.70 should not be overlooked, which might present new buying opportunities.
Bonk: Signals of Recovery
Positive signals are beginning to emerge for the meme coin Bonk. Analyst Altcoin Sherpa indicates that the token has reached its local bottom and is entering a recovery phase from this region. Following a small pullback over the last 24 hours, horizontal movements dominate Bonk's price chart. Currently, no clear breakout is observed, but RSI and volume indicators signal a potential level of preparation for upward movements.
Technical Levels as Strategy
Sherpa's analyses reveal that both meme coins provide distinct signals to investors. While Fartcoin presents a clear picture of resistance and support levels, Bonk's recovery process requires careful monitoring. Traders are reminded to consider not only price movements but also transaction volume and the structure of formations for both tokens.
Meme coins developed on the Solana network are gaining increasing interest due to low transaction fees and high speeds. However, the inherently high volatility of these projects necessitates cautious action from investors.
