Fartcoin (FC) Price Recovers From Dip to Trade at $0.56 — How High Can It Go?

Global market uncertainty continues to ratchet up by the day as major economies refuse to fold in the ongoing trade war.

Major U.S. stock indices slid sharply on Wednesday after earlier rallying.

The S&P 500 fell by 1.9% at the open.

The Dow Jones Industrial Average dropped by 0.8%, while the tech-heavy Nasdaq Composite slid by 2.4%.

The moves come after the White House confirmed that its 104% tariffs on China will go live on Wednesday at midnight Eastern Time.

The Asian nation’s 34% tariffs on U.S. goods, imposed in retaliation, will also begin at midnight.

The Trump administration is still in talks with several smaller nations, including Canada, to fold on their tariffs.

However, major economies aren’t backing down.

Earlier in the day, the S&P 500 rose by nearly 4% in the biggest single-day move since December 2018.

The Dow also rose by 2% earlier in the day.

The rally came in response to positive earnings reports and hopes that the U.S. and China could reach a trade deal.

However, the mood soured after the White House confirmed the tariffs.

Its decision comes after the two sides failed to reach an agreement in their ninth round of trade talks last week.

China’s tariffs on $75 billion worth of U.S. goods will take effect on Wednesday at 12 a.m. Beijing Time.

The tariffs will cover a wide range of goods, including agricultural products, seafood, and textiles.

The U.S. tariffs on $60 billion worth of Chinese goods will also take effect at midnight.

The tariffs will impact goods such as furniture, toys, and footwear.

The two sides have been locked in a trade war for more than a year.

The dispute began when Trump began imposing tariffs on Chinese goods in an effort to reduce the U.S. trade deficit with China.

China responded by imposing tariffs on U.S. goods.

The two sides have since met for several rounds of trade talks but have yet to reach a deal.

The collapse of the talks could push the two nations further into a trade war. It remains to be seen if any parties will fold in the coming days.

In other news, the price of Bitcoin fell below the $77,000 level on Bitstamp.

Haven assets like the U.S. Dollar and Gold are also in the red.

On the other hand, the only crypto asset that continues to defy the global financial meltdown is none other than Fartcoin.

After a quick pullback to $0.53, the Solana meme coin bounced back by 6% to trade at $0.56 at press time.

Some analysts are comparing it to Gold and bonds, which displayed strength during previous market crashes.

"Our parents had gold and bonds. We have fartcoin."

After a brief pullback, the Fartcoin price bounced back by 6% and is trading at $0.56 at press time.

Moreover, the Solana meme coin is forming a cup-and-handle pattern, which could pave the way for an explosive rally to $1.

However, sidelined investors should exercise caution and avoid buying Fartcoin until it flips the $0.63 – $0.64 resistance zone. A rejection from this level would indicate another double top and could result in a major correction.

Is Solaxy The Best Solana Meme Coin To Buy Now?

While sidelined investors should hold off on their Fartcoin buys, whales are continuing to pour in six-figure investments into Solaxy (SOLX).

This first-ever prominent Solana Layer-2 coin has already raised nearly $30 million in its ICO, thanks to whale and retail investment alike.

Curiosity isn't always a good thing…But $SOLX gets it right.Speed ✅Security ✅Innovation ✅https://t.coinsupport.io/e64f0

Solaxy is a zero-knowledge rollup-based Layer-2 solution, designed to tackle the network congestion issues on Solana during periods of heavy traffic.

Its cutting-edge design — which includes ZK proofs, a deterministic sequencer, a Hyperlane-powered multi-chain bridge and data availability tools like Celestia and Sovereign — promises low-cost transactions, exponential increase in scalability, and zero downtime on Solana, even during high traffic periods.

Solaxy has already impressed experts with its architecture and is being viewed as a key component of the Solana ecosystem in the future.

Considering that the top Bitcoin and Ethereum L2s have multibillion-dollar valuations, SOLX is also likely undervalued during its presale.

In fact, several experts are calling it the next 10x crypto and one of the best Solana meme coins to buy today.