A popular crypto analyst is still optimistic about a new memecoin that has already grown almost 50 times in less than three months.
The pseudonymous trader known as Altcoin Sherpa says he believes the Solana (SOL)-based memecoin Fartcoin (FARTCOIN) will continue to rise, but he notes he has some concerns.
“I decided to scale back on this one yesterday and I’m going to be patient with Fartcoin from now on. I still think it’s an amazing meme and will go much higher, but I’d like to see more of it and make sure it doesn’t suffer the same fate as the other great memes that had a perpetual future on Binance. Virtual and aixbt are promising but I feel like it’s a little different than that. I’ll look but will consider adding more later.
Fartcoin is trading at $0.954 at the time of writing. The crypto asset ranked 122nd by market capitalization is down almost 9% in the last 24 hours, but up more than 3,750% since its launch in late October.
Altcoin Sherpa also presents its investment strategy in artificial intelligence (AI) tokens.
“Most crypto AI will perform pretty well this cycle; you just have to choose your horses. Concentration > spray and pray and chain > [centralized exchange] coins too, i.e. buy 5 good chain bags. Don’t buy 20 pieces like FET, AR, WLD, etc.
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