Is a New ATH on the horizon for Floki, given its 27% weekly price increase? / Source: TradinngView
The price of Floki (FLOKI) has risen 27% over the last week, reaching $0.157 per token and having a market capitalization of more than $1.5 billion, according to data provided by CoinMarketCap.
Accordingly, the price of Floki has increased by an astounding 61% from previous monthly lows in the $0.00009 range.
That’s impressive, but the gains could only be getting started.
The price of Floki has, in fact, recently broken out of a significant medium-term technical downtrend that has been in place since June.
A quick move higher is feasible if it can break through its 200DMA in the $0.00017 region.
Bulls would aim for a 35% increase from the current levels, or the highs from July at $0.00021.
Retesting the June all-time highs of $0.00035 would be the next significant bullish target.
For Floki, that would represent a 120% increase from the current price.
Though This Alternative May Be Better, Floki Price May Reach New All-Time Highs?
With the start of Fed interest rate cuts less than one month away, meme coin season could soon come back in force.
This could cause the FLOKI price to soar to new all-time highs in addition to its favorable technical setup.
FLOKI might even reach $10 billion in value as a meme coin, representing gains of up to six times from their present value.
Tokens with greater upside potential, however, will be sought after by certain meme coin traders.
Crypto All-Stars (STARS), an intriguing new meme coin staking protocol, is one new meme coin that analysts at Cryptonews.com are huge fans of.
The innovative new meme coin has already raised over $800,000 and is presently in presale.
In the video below, Chester, an in-house presale analyst at Cryptonews, explains why he believes STARS has enormous potential.