Crypto Analysts Foresee Another FLOKI Expansion Despite Market Drop
16 March 2024 - 9:00AM
NEWSBTC
FLOKI and the dog-themed cryptocurrencies have been the talk of the
town recently. BONK and dogwifhat (WIF) reached new all-time highs
(ATH) this month, while the Viking dog-based token climbed to
levels not seen since the previous bull run. During this rally,
memecoins have soared alongside the rest of the cryptocurrencies.
However, in the past 24 hours, the market went from flying to
crashing as the prices of most cryptocurrencies followed the recent
Bitcoin dip. Related Reading: Solana’s Biggest Memecoin Gains Over
$680,000 In 3 Days As Investors Bet On Its Popularity Is FLOKI
Ready To Continue Its Expansion? Last week, FLOKI, the fifth
largest memecoin by market cap, soared by over 60% after announcing
its listing in two major crypto exchanges in Asia and the Middle
East. The news propelled the token’s price to $0.0002043. Crypto
Analyst Byzantine General shared on X (formerly Twitter) his view
on the token’s recent performance. According to the post, FLOKI was
one of the few tokens that “held up nicely.” Based on that,
Byzantine General observed that the price was consolidating before
another expansion. One of the coins that held up nicely today is
$FLOKI. Looks like it's just consolidating before another
expansion. And lately it's basically been a higher beta $DOGE.
pic.twitter.com/9MsrfInjvA — Byzantine General (@ByzGeneral) March
14, 2024 FLOKI has shown a rising trajectory this month, increasing
337% since March 1st. The chart in the post highlights the past
four days, displaying that the Solana-based memecoin has
consolidated between the $0.00026-$0.0003 price range. A broader
look at the token’s price exhibits that it hovered between
$0.000028-$0.000039 in the first two months of 2024 before breaking
above the $0.000040 resistance level at the end of February. In the
past 30 days, FLOKI has registered a stellar $649.4% growth.
Similarly, the renowned trader and market analyst MacroCRG shared
on X that “$FLOKI holding up like a mf chad” amid the market dip.
According to the trader, the token will continue as one of the
leaders “as long as the memecoin supercycle bid remains.” Market
shits itself? It's oke, $FLOKI holding up like a mf chad New
revamped roadmap coming soon + many product launches lined up for
the rest of the year… As long as the memecoin supercycle bid
remains… IMO @RealFlokiInu gonna continue being one of the leaders
pic.twitter.com/2gsIE04Dkv — CRG (@MacroCRG) March 15, 2024 The
analyst highlighted the project’s newly revamped roadmap as part of
its “strengths.” Additionally, he pointed out that the web3 project
has product launches lined up for the rest of the year. FLOKI’s
Price Action The launch in the mainnet of the Valhalla Game,
powered by FLOKI, is highly expected by the “Floki Vikings.”
Undoubtedly, the community has shown massive support and confidence
in the web3 project, as many expect it to skyrocket soon to a new
ATH. The token’s price has closely followed the jumps and dips of
BTC during the past seven days, as seen in the chart below. It
registered a drop of 13.5% in the last 24 hours. BTC and FLOKI’s
performance in the 7-day chart. Source: CoinGecko.com Coupled with
the price drop, the daily trading volume decreased 21.3% to $837.2
million. Moreover, WIF recently flipped it, which took fourth place
as the largest memecoin by market cap. By this metric, FLOKI’s
$2.47 billion takes 52nd place in the global crypto market ranking
after a 6.6% decrease in the last day. At writing time, FLOKI is
trading at $0.000248. Despite the price decrease, the token still
shows a remarkable 28.3% growth in the 7-day timeframe. Related
Reading: Why Is Bitcoin Price Down Today? 3 Key Reasons FLOKI is
trading at $0.000248 in the 1-day chart. Source: FLOKIUSDT on
TradingView.com Featured image from Unsplash.com, Chart from
Tradingview.com
FLOKI (COIN:FLOKIUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
FLOKI (COIN:FLOKIUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024