Despite the volatility in the cryptocurrency market, certain altcoins remain on the radar of traders. Notably, Altcoin Sherpa has made significant observations regarding meme coins developed on the Solana 
$168 network. His analyses of Fartcoin and Bonk reveal promising graphical data indicating the short- and medium-term potential of both tokens. He emphasizes the need for traders to closely monitor technical levels without providing definite directions.
Fartcoin: Impressive Short-term Performance
According to Altcoin Sherpa, Fartcoin has captured investor attention with an impressive upward momentum in the short term. The token has seen an increase of approximately 222%, currently trading at $0.8542. The analyst predicts that the token could rise an additional 47%, contingent on testing the $0.96 level as a strong resistance point.
Sherpa warns that if the price fails to exceed this level, the possibility of a correction down to $0.70 should not be overlooked. He suggests that this could present new buying opportunities. The analyst asserts that the token has long-term value appreciation potential and reminds traders to carefully watch Fibonacci levels in technical analysis. These indicators can help traders identify both profit-taking and re-entry points.
Bonk Signals Recovery from the Bottom
For another popular meme coin based on Solana, Bonk, positive signals are beginning to emerge. Analyst Altcoin Sherpa indicates that the token has reached its local bottom and is entering a recovery phase from this region. After a small pullback over the last 24 hours, horizontal movements dominate Bonk’s price chart.
Sherpa notes that many strong altcoins are consolidating within similar price ranges, which offers a hopeful scenario for Bonk. While he does not expect sharp movements in the short term, he believes a new upward wave could follow the consolidation phase. Such formations might create potential opportunities for patient investors.
Although Bonk has not yet experienced a clear breakout in its technical outlook, the RSI and volume indicators signal a certain level of preparation. Alongside the general optimism in the market, upward movements in Bonk’s pricing may also be observed.
Technical Levels Guide Strategy
Sherpa’s analyses reveal that both meme coins provide distinct signals to investors. While Fartcoin presents a clear picture of resistance and support levels, Bonk’s recovery process requires careful monitoring. Traders are reminded to consider not only price movements but also transaction volume and the structure of formations for both tokens.
Meme coins developed on the Solana network have been facing increasing interest lately. This interest stems from the network’s benefits, such as low transaction fees and high speeds, alongside the demand for community-based projects. However, the inherently high volatility of these projects necessitates cautious action.
