Is the FLOKI Price Primed For Another Surge? / Source: Cryptonews
On Thursday, the price of Floki (FLOKI) fell by more than 11%, from around $0.00016 to less than $0.00014.
However, that does not portend disaster for FLOKI. In fact, chart analysis points to the possibility of another spike in the FLOKI price.
This is due to the fact that the FLOKI price just broke above a downtrend that has been in effect since July.
Moreover, earlier in August, FLOKI appears to have formed a favorable double bottom, a sign of a potential bullish reversal.
True, FLOKI was able to release its hold on its 50DMA on Thursday. If the Ethereum-based meme coin wishes to get back to its July highs, it will need to pass that crucial stage.
But with a Fed rate cutting cycle coming up next month, the FLOKI price could soon be in for a near 3x price surge.
Thus, FLOKI is probably among the greatest meme coins and one of the best cryptocurrencies to purchase at this time.
In fact, FLOKI has plenty of room to grow during this bull cycle given its still-modest market capitalization of about $1.3 billion.
Recall that in the past, the market capitalization of meme coins like Dogecoin and Shiba Inu exceeded $40 billion.
Not that the price of FLOKI will increase by 30–40 times from here. However, it seems certain to hold the top spot in the market because of its quickly expanding GameFi and DeFi ecosystems. See the road map for FLOKI below. Gains of 10 times are definitely possible.
FLOKI ROADMAP: WHAT’S NEXT ON OUR AGENDA…
— FLOKI (@RealFlokiInu) March 22, 2024
From the get-go, we’ve been VERY clear about our goal for Floki:
To be the most known and most used cryptocurrency in the world.
Our new roadmap outlines how we intend to achieve this:https://t.co/cBqJXwhziH pic.twitter.com/hBydq4D4lX