Fartcoin, perhaps the most popular Solana meme coin, is no longer a top 100 cryptocurrency on CoinMarketCap.
After failing to clear the $0.95 resistance, Fartcoin tumbled 37%, bottoming at $0.595. It is currently trading at $0.61, with a market capitalization of just $610 million.
The meme coin is now approaching key support levels and could see a rebound to end the month. However, experts suggest a high possibility of more downside volatility.
With the market backdrop still firmly bearish, conditions remain unfavourable for large-cap meme coins like Fartcoin. Many smart money investors are rotating to new meme coins like Pepenode and MaxiDoge.
These low-cap cryptos remain largely unaffected by the broader market outlook, making them attractive investments amidst the current backdrop. Many investors are even calling PEPENODE and MAXI the next 100x cryptos.
Fartcoin Price Prediction: Time To Buy The Dip?
Fartcoin failed to breach the all-important $0.95 resistance level, instead carving out a textbook double-top formation right at that price point.
Prominent analyst Nebrakangooner had highlighted the significance of this setup in advance, predicting that the combination of the failed breakout and the double top would lead to a substantial correction. He went on to give a precise, measured target of $0.60 based on the chart projection, which has since panned out.
However, $0.60 represents only the upper boundary of Nebraskangooner’s target range, and he has left the door open for a deeper correction, potentially extending to $0.40.
Indeed, a look at the Fartcoin price chart reveals that $0.58 and $0.40 are the two key support levels. The token appears to be successfully holding above $0.58, and a monthly close above it could point to the end of the downtrend.
On the contrary, a breakdown below could result in a larger correction to $0.40.
Fartcoin isn’t dead. The popular Solana meme coin remains strongly correlated with the broader market outlook. With the sentiment expected to improve in October, it could start a bullish reversal and could even be among the top performers.
However, sidelined investors should wait for the upcoming monthly close before buying, depending upon whether or not it manages to successfully hold above the aforementioned support levels.
Smart Money Investors Rotate To New Meme Coins, Pepenode and MaxiDoge Called The Next 100x Cryptos
Smart money investors are rapidly rotating to low-cap cryptos and new meme coins, seeing as they show zero correlation to Bitcoin and the broader market bearishness.
For instance, Bertram the Pomeranian (BERT) is up by 25% today, while most meme coins are in the deep red. Another new crypto, Aster (ASTER), is largely unaffected by the broader market crash and is up by nearly 20%, despite being a multibillion-dollar asset.
Many believe that the new Pepenode (PEPENODE) meme coin could show similar resilience. Currently still in its presale, it has raised over $1.3 million in short order behind sustained buying pressure from whales and retailers alike.
As such, Pepe-themed meme coins are popular. However, Pepenode has separated itself from the crowd by introducing the mine-to-earn utility in the meme coin sector.
Through this system, holders use their tokens to build virtual mining rigs, purchase Miner Nodes, and upgrade facilities to boost output.
Every upgrade triggers a deflationary burn that permanently reduces supply, while rewards include not only $PEPENODE but also leading meme coins such as Pepe and Fartcoin.
Smart money investors are already taking note, with many projecting that it has 100x potential.
Similarly, a new doge-themed meme token, MaxiDoge (MAXI), is in high demand and has raised nearly $2.5 million in its ICO.
Portrayed as a wilder, more shredded doge, MaxiDoge has emerged as a favourite of meme coin hunters, crypto degens, and the online community.
With its sarcastic portrayal of crypto degens, this new meme coin can make investors laugh, which is an excellent indicator of future success. It is not without reason that whales are buying $100k worth of MAXI in single transactions.
Much like PEPENODE, MAXI is being tipped by several experts as the next 100x crypto.
Visit MaxiDoge Presale
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