The post Solana Meme Coin Fartcoin Hit ATH ($0.02) With 70% Gain: Will It Hit $2 Next? appeared first on Coinpedia Fintech News

Meme coins have taken the crypto world by storm, offering massive returns in short spans, and Fartcoin, a Solana-based AI memecoin, is the latest to capture attention. This week, Fartcoin hit an all-time high (ATH) of $1.60, following a remarkable 70% rally. Despite the excitement, some analysts predict a possible pullback before the next big surge.

Fartcoin Hits New ATH

Fartcoin, known for its humor-driven branding and ties to viral trends, stands out as a Solana meme coin with a loyal community. While it doesn’t have standout features, its price performance has been exceptional. 

Since its launch in October, the token’s value has skyrocketed, growing 700% in just one month and pushing its market cap to $1.48 billion.

Adding to the momentum, Coinglass data shows that Open Interest (OI) for Fartcoin surged 22% this week, reaching $182.4 million. This influx of interest has been a key driver behind the recent price rally.

AI Meme Coins Are Taking Over

As traditional meme coins like DOGE ($0.16) and SHIB ($0.00) struggle to regain their past success, newer tokens like Fartcoin and AI16Z are gaining the spotlight. AI16Z, another Solana-based token, saw a huge 176% price surge in a week and now has a market cap of $2.17 billion.

Fartcoin is currently the fifth-largest AI meme coin on Solana Network, and if the bullish trend continues, it could join AI16Z in the $2 billion market cap club. Other AI-themed tokens, like Freysa AI (93% growth) and Zerebro (82% growth), are also making strong gains.

Can Fartcoin Reach $2?

Fartcoin has grown an unbelievable 2,960,840% in the last three months fueling investor confidence. Analysts believe the token could reach $2 if it continues to break key resistance levels around $1.67. 

However, its current position above the Bollinger Bands Indicator suggests it may be overbought, indicating a potential price correction. And, if buyers stay strong, the token might reach $2. But if selling pressure grows, its price could drop to $0.53