Crypto Analyst Says Solana-Based Memecoin Primed for a ‘Biblical’ Rally, Updates Outlook on Bitcoin and Ethereum

A widely followed crypto analyst says that one popular memecoin is bound for an explosion.

Pseudonymous analyst Altcoin Sherpa tells his 254,000 followers on the social media platform X that the recently-popular memecoin Fartcoin ( FARTCOIN ) has room to grow.

“FARTCOIN’s ascent will be biblical

Hot air rises.”

Source: Altcoin Sherpa/X

According to Altcoin Sherpa, the Solana ( SOL )-based altcoin has several important factors going for it.

“FARTCOIN checks several boxes:

– SOL beta (sol doing great)

-Meme of the cycle (memes run the hardest)

– AI (associated with GOAT)

-Most decentralized meme with insane volume and known by everyone? Billions.”

The analyst also predicts FARTCOIN will rise all the way to $10. The memecoin is trading for $0.805 at time of writing, down 1.5% on the day. A rise to $10 would represent a percentage increase of 1,150%.

Looking at king crypto Bitcoin ( BTC ), the pseudonymous analyst believes that the flagship cryptocurrency has already found its “local bottom.”

“BTC I still think the local bottom is in. We’ve spent 2 weeks chopping/consolidating down here. Bottoms aren’t just formed around a certain price; they’re formed with time spent in 1 area.

I think we can safely long anything above $112,000 personally. With that said, there’s going to probably be a lot of volatility this coming week with some macro events, so be careful. Still, I think we’re looking decent.”

Source: Altcoin Sherpa/X

Turning to SOL-rival Ethereum ( ETH ), the analyst sees reasons to believe that the leading smart contract platform is about to rally.

“ETH looks primed, in my opinion. Although I think that SOL is going to be a better bet in the mid term, I think that ETH still has plenty of upside.”

Source: Altcoin Sherpa/X

Generated Image: Midjourney