Is the FLOKI Price Primed For Another Surge? Analysts Point to Favorable Double Bottom
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
The Floki (FLOKI) price has dived over 11% on Thursday from near $0.00016 to under $0.00014.
But that doesn’t mean catastrophe for FLOKI. Indeed, chart analysis suggests that the FLOKI price might be pried for another surge.
That’s because the FLOKI price recently broke to the north of a downtrend in play since July.
Moreover, earlier in August, FLOKI appears to have formed a favorable double bottom, a sign of a potential bullish reversal.
Granted, on Thursday FLOKI lost its grip on its 50DMA. That will be a key level for the Ethereum-based meme coin to overcome if it wants to return to its July highs.
But with a Fed rate cutting cycle coming up next month, the FLOKI price could soon be in for a near 3x price surge.
FLOKI likely thus ranks as one of the best cryptos to buy right now, and certainly amongst the best meme coins.
Indeed, FLOKI’s still modest market cap of around $1.3 billion leaves plenty of room for expansion this bull cycle.
Remember that, in the past, meme coins like Dogecoin and Shiba Inu reached market caps north of $40 billion.
That’s not to say that the FLOKI price will 30-40x from here. But, thanks to its rapidly growing GameFi and DeFi ecosystem, it looks set to remain a market leader. See FLOKI’s road-map below. 10x gains are certainly plausible.
FLOKI ROADMAP: WHAT’S NEXT ON OUR AGENDA…
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
