Fartcoin has shed nearly 20% of its value in the past 24 hours as Solana meme coins seem to be once again out of fashion. One trader sees a much deeper correction ahead as the evidence supports a bearish Fartcoin price prediction of $0.20.
Despite the upswing that Fartcoin experienced between April and July this year, this meme coin currently sits on a 12-month loss of 68% as the market has shunned meme coins.
Meanwhile, trading volumes have surged by 28% in the past 24 hours, currently accounting for 43% of the asset’s circulating market cap. This indicates that the selling pressure is increasing.
Crypto trader Popeye shared an interesting analysis of Fartcoin’s price action a few hours ago. The chart shows how a rejection of the $0.35 level favors a bearish price prediction for the token.
Based on his analysis, the price could drop to as low as $0.20 in the next few days. This results in a downside risk of 28% based on today’s price.
Fartcoin Price Prediction: FARTCOIN Needs to Recapture $0.40 to Reverse Its Downtrend
Although other top Solana meme coins like Bonk (BONK) and SPX6900 (SPX) are also taking losses today, Fartcoin’s drop is nearly 4X higher than that of the average token in this category.
The daily chart shows that FARTCOIN hit a sell wall once it hit $0.40. Pretty much in line with Popeye’s prediction, the token now seems headed to retest the $0.20 support.
FARTCOIN has been consolidating in this range for a while. Hence, a break below this mark could result in additional losses in the near term.
Meanwhile, if the price bounces off this level, it will still need to break past the $0.40 area to reverse its downtrend. In that scenario, FARTCOIN could rapidly climb to $0.70, meaning a potential 75% gain.
Even though meme coins have faced significant selling pressure lately, top crypto presales like Pepenode ($PEPENODE) are still attracting millions from investors. This mine-to-earn (M2E) game allows players to easily mine meme coins without investing thousands of dollars in hardware.
Pepenode ($PEPENODE) Makes Crypto Mining Easy and Accessible for Everyone
Mining cryptocurrencies commonly requires thousands of dollars invested in expensive equipment. Pepenode ($PEPENODE) is here to change that paradigm by introducing a fun and rewarding M2E model that lets you set up virtual servers and fire up mining rigs without any hardware requirements.
Simply buy $PEPENODE to get started. You can launch as many rigs as you want and upgrade them to increase their output. As you climb the leaderboard, you’ll get surprising airdrops of token meme coins like Bonk ($BONK) and Fartcoin ($FARTCOIN).
Up to 70% of the tokens invested in upgrades will be burned forever to reduce $PEPENODE’s circulating supply, which sets the stage for an explosive move as the game’s popularity increases.
To buy $PEPENODE, simply head to the official Pepenode website and connect a compatible wallet like Best Wallet.
You can swap tokens like USDT or ETH or use a traditional bank card to complete your purchase.
Visit the Official Pepenode Website HereThe post Fartcoin Price Prediction: FARTCOIN Price In Hot Water, Price Dips Below $0.3 – What’s Next? appeared first on Cryptonews.
