Three Altcoins Hit New All-Time Highs as Meme Coin Mania Persists

Despite a slight downturn in the broader cryptocurrency market, several altcoins have bucked the trend, hitting new all-time highs today.

Several altcoins bucked the broader cryptocurrency market downturn and hit new all-time highs on Friday. BeInCrypto has analyzed three standout tokens.

Fartcoin (FARTCOIN) led the gainers, surging to a new peak of $0.73 during the early Asian session. It is now trading at $0.63, reflecting a 12% decline from its peak.

The meme coin has now hit six new all-time highs in the past seven days. This reflects a steady uptick in demand for the altcoin, largely fueled by the meme coin mania.

A bullish setup on FARTCOIN’s Moving Average Convergence Divergence (MACD) also adds to this bullish outlook.

At press time, the MACD line (blue) is positioned above the signal line (orange). When the momentum indicator is set up this way, it suggests a bullish trend. It indicates that the asset’s price may continue to rise. This crossover is often seen as a signal to buy, reflecting increased buying pressure.

If this trend persists, FARTCOIN’s price will continue to rise and reclaim its all-time high to rally past it. On the other hand, the meme coin’s price may drop to $0.56 if selling pressure spikes.

Fasttoken (FTN) rose to an all-time high of $3.26 today. While its price has dropped by 1% since then, the token continues to enjoy a significant bullish bias.

This bullish outlook is confirmed by its rising Chaikin Money Flow (CMF). As of this writing, FTN’s CMF is at 0.71.

The CMF indicator measures the accumulation and distribution of an asset over a specified period, typically 21 days. When the CMF is above zero, the asset is experiencing more buying pressure than selling pressure, suggesting a bullish trend. This positive reading often signals a potential upward price movement.

If the rally persists, FTN will continue to rally and reclaim its all-time high of $3.26, possibly flipping it into a support floor and rising further. Conversely, if profit-taking activity spikes, the altcoin’s value will plummet to $2.67.

Finally, Solana-based meme coin GIGA hit an all-time high of $0.080 earlier today. It has since witnessed an 8% pullback, causing it to trade at $0.074 at press time.

However, token accumulation persists among market participants, as reflected by GIGA’s rising Relative Strength Index (RSI). At the time of writing, this is at 66.23.

An asset’s RSI indicator measures its overbought and oversold conditions. Its values range between 0 and 100, with values above 70 indicating that the asset is overbought and due for a correction. On the other hand, values under 30 suggest that the asset is oversold and may witness a rebound.

GIGA’s Relative Strength Index (RSI) of 66.23 indicates that the asset is nearing overbought conditions. While bullish momentum remains strong, higher RSI levels could signal a potential pullback or consolidation In the event of a pullback, the meme coin’s value might decline to $0.063.