Floki Price Prediction as FLOKI Drops 25% From Recent Highs – Can FLOKI Reach $1?

cryptonews.com:

Floki (FLOKI) bulls are growing nervous as a Floki price pullback accelerates, with the token having now dropped over 25% from last week’s highs in the $0.000267 area to around $0.00020.

This week’s drop has seen the Floki price lose break convincingly below its 21DMA for the first time in months.

That could open the door to a near-term drop back to resistance-turned-support around $0.00016.

The 50DMA would also come into play here. This area could therefore be a zone where a lot of investors are keen to buy the dip.

Indeed, many crypto investors are likely to be keen to get a piece of the Floki action after its stunning 7x rally since early February.

At the current Floki price of $0.0001995, Floki has a market cap of just under $2 billion.

That’s more than 12x less than Dogecoin’s monstrous $25 billion market cap. That suggests Floki still has plenty of upside potential.

But can it ever reach $1?

Floki has a total supply of just over $9.7 trillion. So at a price of $1 per token, it would have a market cap of $9.7 trillion.

That’s nearly 7.5x Bitcoin’s current market cap of around $1.3 trillion. While nothing is impossible in crypto, that suggests that the Floki price ever reaching $1 is likely a little farfetched.

But can Floki reach a valuation in the $10s of billions? That is very possible, with Dogecoin and Shiba Inu having already shown the path.

Assuming Bitcoin goes on to replace gold as the global reserve asset, reaching a market cap in the tens of trillions of dollars, then Floki could even go on to clinch a $100 billion market cap.

It is, after all, likely to remain a leader in the meme coin space, thanks to its massive, dedicated community.

Shiba Inu offers potential investors a great chance to make solid gains.

However,