The Fartcoin price has climbed by 3% in the past 24 hours, with its jump to $1.42 coming as the crypto market as a whole slips by 0.2% today.
This increase puts Fartcoin up by 18% in a week and by 41% in a month, with the token outperforming TRUMP by a wide margin, which is flat in a week and down by 15% in the last 30 days.
Another flattering contrast is that Fartcoin is only 42% down from its January ATH of $2.48, while TRUMP is down from its own ATH by a whopping 82%.
This stark contrast testifies to the greater decentralization of Fartcoin in comparison to TRUMP, with this decentralization putting it in a much better position to rally in the coming months.
Is Fartcoin the New King of Meme Coins? While TRUMP Tanks, FART Just Keeps Rising (Fartcoin Price Prediction)
Looking at the Fartcoin price and its chart today, we see that it has just begun another bounce that could lead to further gains in the next few days.
After dropping as low 40 yesterday, the alt’s relative strength index (purple) has risen back above 50 and could continue towards 70, as it did in previous weeks.
Source: TradingView
However, it’s also worth noting that the token’s 30-period average (orange) has remained above the 200-period average (blue) since early April, implying that a small correction could be coming for the Fartcoin price.
One other positive detail is that the coin’s 24-hour trading volume is about 176% higher than it was three months ago, pointing to elevated demand.
Indeed, whales have continued buying Fartcoin in the past few weeks, including one large investor who purchased $4.4 million in the token on Friday.
Such data suggests that the Fartcoin market remains very healthy, which we can’t necessarily say for one of its rivals, TRUMP.
TRUMP’s trading volume is currently higher than Fartcoin’s, yet as noted above it has underperformed the latter on pretty much every timeframe.
It’s arguable that this is because TRUMP’s market is more centralized and more manipulated, with the coin falling in the days following a 220-person dinner for the biggest holders of the meme token.
Because Fartcoin is an AI coin, it’s arguably more decentralized than TRUMP, with 80% of the latter’s total supply held by the two Trump-owned entities which created it.
https://twitter.com/0xBiZzy/status/1923607545500877156
This greater decentralization potentially gives the market more faith in Fartcoin, with the Fartcoin price on track to reach $2 in the next couple of months, and $3 by Q4.
New Altcoins with Stronger Fundamentals and Stronger Potential
If Fartcoin is too much of a meme token for some traders, they may prefer to invest in new alts with more utility and more solid fundamentals.
Of course, finding promising alts with potential before they explode can be tricky, but one route to doing this is to look for big presales.
The popularity and size of presales can be an indicator that a coin will do well once it goes live, with some of the biggest sales leading to big rallies.
And probably the biggest presale happening right now is Solaxy (SOLX), a layer-two token that has raised an incredible $40.7 million in its ICO.
https://twitter.com/SOLAXYTOKEN/status/1924430478247182499
Solaxy’s sale will end in 20 days, with the platform launching its layer-two network for Solana soon after.
As an L2 for Solana, Solaxy will provide users with low transaction fees and fast confirmation times, removing much of the friction that can come with using Solana.
It will help traders to avoid delays and congestion, while it will also enable instant bridging between itself and its parent chain.
This will help Solaxy to grow in size quickly, with the platform aiming to become a major hub for meme tokens and DeFi.
Because users will have to pay transaction fees in SOLX, the token could experience massive demand as Solaxy grows in size.
Newcomers can still join its sale at the Solaxy website, where SOLX costs $0.001736.
Given the success of its sale, it could rise well beyond this price once it lists in three weeks.
The post Is Fartcoin the New King of Meme Coins? While TRUMP Tanks, FART Just Keeps Rising (Fartcoin Price Prediction) appeared first on Cryptonews.
