An influential cryptocurrency trader is considering increasing his investment in a Solana-based memecoin during the current market correction.
Altcoin Sherpa, a pseudonymous analyst with a large following on social media platform X, is eyeing Fartcoin (FARTCOIN), a memecoin created by an anonymous developer based on the “ideal memecoin” concept proposed by the AI model Truth Terminal.
Despite the market dip, Altcoin Sherpa plans to accumulate FARTCOIN, even if its price drops to $0.65.
“I’m adding to my position around $0.80, with more buys at $0.80 and potentially $0.65. I aim for an average price of $0.80 or lower. While I have some concerns about the trade being too consensus-driven, I still believe in the meme and its potential.”
As of now, FARTCOIN is trading at $0.86, remaining within Altcoin Sherpa’s target range for accumulation.
In addition to FARTCOIN, the trader has identified two other altcoins with potential for rallies: Hyperliquid (HYPE), a decentralized finance (DeFi) protocol, and ai16z (AI16Z), an AI-powered venture capital fund.
Altcoin Sherpa is optimistic that the current bearish trend in the crypto market will eventually reverse, benefiting traders who are currently facing losses.
“If you’re currently at a loss, just hold on for a few more weeks and the market will bounce back.”
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