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A closely followed crypto analyst believes one red-hot meme token operating on Solana (SOL) may continue soaring even higher. Pseudonymous analyst Altcoin Sherpa tells his 243,800 followers on the social media platform X that artificial intelligence (AI)-based Fartcoin (FARTCOIN) may increase by more than 47% from its current value. “Would rather buy higher (break of $1) or lower ($0.70) for Fartcoin. This is either charging up for a big move up to $1.25 or it’s going to pullback, I don’t have a clue where it goes in the short term. What I do know, however, is that this thing is going to go higher later on.” Source: Altcoin Sherpa/X Looking at his chart, the trader suggests FARTCOIN make another attempt to break through resistance at $0.96. However, he says the meme asset may first return to the .382 Fibonacci retracement level at $0.70. Fartcoin hit a low of $0.265 on March 18th and is trading for $0.8542 at time of writing, up 222% in a ...

Meme token airdrops and rewards have become popular strategies to engage communities and incentivize participation within the crypto space. Airdrops, often used as marketing tools, distribute free tokens to holders or potential users, creating buzz and expanding user bases. These tokens typically belong to meme-based projects that leverage humor and community sentiment to drive interest. Rewards programs often complement airdrops, encouraging users to engage with the platform through staking, trading, or social media interactions. By rewarding loyal participants, projects can foster a sense of community and loyalty, enhancing overall project sustainability. However, while airdrops and rewards can stimulate initial interest, they also come with risks. Many meme tokens lack substantial backing, leading to price volatility and potential losses for investors. Additionally, some projects may resort to airdrops as a way to pump prices temporarily, only to see them plummet after the event. Ul...