Fartcoin (FARTCOIN) Price Prediction — What's Next For The Solana Meme Coin?

The popular Solana meme coin Fartcoin is currently the most polarizing crypto asset on the market.

Popular Solana meme coin Fartcoin is currently the most polarizing crypto asset on the market.

Many experts' Fartcoin price prediction models anticipate a correction following its 400% rally off its macro bottom. However, the meme coin refuses to back down, showcasing remarkable bullish strength.

After a momentary pullback to the $0.70 support level, $FARTCOIN is back above $0.90, resulting in significant FOMO buying.

However, those on the sidelines might want to remain patient. Whether Fartcoin is a buy at current levels will depend on how it breaks out of its current ascending broadening wedge.

Fartcoin Price Prediction — What's Next For The Solana Meme Coin?

Fartcoin is currently the biggest phenomenon in the crypto market. Much to the chagrin of TradFi purists, this joke coin continues to shrug off the broader market uncertainty.

Just today, all major U.S. equity indices — the Dow Jones, S&P 500, and Nasdaq — dropped by more than 2% amid renewed concerns over stalled trade negotiations between the United States and its key trading partners. Tech stocks like TSLA and NVDA slid by nearly 6%.

In contrast, Fartcoin is up by nearly 3% on Monday, extending its momentum after posting back-to-back 10% green candles over the weekend.

Things are heating up on Fartchain 🔥People ripping millions into the chart like it ain’t nothin 💨💨💨 pic.twitter.com/BqZfPqNj8Z

— Ben Armstrong (@BitBoyCrypto) August 7, 2023

After momentarily sliding to $0.71 last week, it has climbed by nearly 30%, returning above the $0.90 level.

$FARTCOIN is now seeing significant FOMO buying at its current price, with whales pouring in millions.

According to Moby AI's analysis, Fartcoin is currently one of the most longed assets by the Hyperliquid leaderboard traders. Indeed, Fartcoin price predictions from prominent analysts suggest a strong likelihood of bullish continuation, with $1.30 as the next target.

However, those on the sidelines should still exercise patience rather than FOMO buying at the current price.

For starters, the Fartcoin price has failed to breach its $0.93 – $0.96 resistance zone (marked by the pink rectangle) once again, despite repeated attempts. Buying at resistance is one of the quickest ways to incur losses.

Moreover, $FARTCOIN is now trading within a rising broadening wedge, marked by yellow trendlines in the above price chart. While a breakout above the upper trendline is possible, the rising broadening wedge is generally considered a bearish pattern, often signaling an impending reversal.

A bearish breakdown below the lower trendline would pave the introduce more downside volatility. In this scenario, those on the sidelines should either wait for a double bottom at $0.71 or a successful retest of the $0.64 support level before buying.

Is Solaxy A Better Alternative?

While Fartcoin could see a significant pullback in the coming days, a new Solana meme coin, Solaxy (SOLX), continues to be in high demand during its presale.

Relentless whale buys have pushed the SOLX presale past the $31 million milestone, a major achievement considering the broader market uncertainty.

Take a trip in the Solaxy! 🪐🛸31M Raised! 🔥

Join the presale now: https://t.co/8SMvcI8xmA

SOLX is a Solana Layer-2 scaling token designed to increase throughput and efficiency. It's also the first prominent project of this kind. Most importantly, it's going to revolutionize the Solana ecosystem. pic.twitter.com/cJ60u8719m

— Ben Armstrong (@BitBoyCrypto) August 7, 2023

Unlike most new utility-less meme coins, Solaxy is the first prominent Solana Layer-2 coin, designed to tackle the network congestion issues during periods of heavy traffic.

Its Layer-2 scaling solution includes ZK rollups, data availability tools like Celestia, a Hyperlane-powered multi-chain bridge, etc., which ensures low-latency transactions, zero downtime and exponential scalability. Already, the latest launch of Solaxy's testnet block explorer is creating quite a buzz.

As a result, experts view Solaxy as a key part of Solana's ecosystem in the future, making it an excellent beta bet on $SOL. They also note that the top Layer-2 projects in the Bitcoin and Ethereum ecosystems have multibillion-dollar valuations, which makes SOLX an undervalued asset.

Unsurprisingly