As Bitcoin (BTC) inches towards the significant $70k mark post its recent halving event, the meme coin market is ablaze, with standouts like Floki (FLOKI), Pepe (PEPE), and Bonk (BONK) stealing the spotlight. Amidst this surge, Floki stands tall, marking an impressive 15 percent surge in just 24 hours, trading around $0.0002 during London’s early session on Wednesday.
The mid-cap meme coin, with a fully diluted valuation of about $2 billion and a daily average traded volume of around $457 million, has rallied nearly 40 percent in the last seven days, thus signaling the end of its correction.
Why Bet on Floki in this Bull Cycle?
With partial support from tech titan Elon Musk, Floki finds itself embraced by the dynamic web3 ecosystem. Projects like Floki Locker, facilitating liquidity pool token locking, have grown substantially, amassing over $142 million in Total Value Locked (TVL).
Notably, the FlokiFi Locker is a multi-chain protocol supporting 15 EVM-compatible blockchains. The supported chains include ETH, BSC, Base, Blast, Arbitrum, Polygon, Fantom, AVAX, Optimism, KCC, OKXChain, opBNB, Cronos, Evmos, and Dogechain.
FLOKI’s utility receives a notable boost through strategic partnerships, exemplified by its collaboration with Alltoscan, which locked $18 million worth of ATS tokens for 15 months using the Floki Locker. These partnerships underscore the burgeoning recognition of Floki’s ecosystem within the crypto community.
Also Read Meme Coins DOGE, PEPE, FLOKI Ready For Extended Bull Run?
Floki Price Targets
As Floki’s price surges towards the upper boundary of the bullish flag, analysts anticipate further gains, projecting a potential 3X rally in the near term. However, sustaining bullish momentum necessitates consistent closures above key technical indicators, including the 50-day Moving Average (MA) and the weekly Relative Strength Index (RSI) above 70.
With supportive technical indicators and a thriving ecosystem, Floki’s journey towards retesting all-time highs appears increasingly plausible, promising excitement for investors and enthusiasts alike.
Also Check Out: Best Meme Coins To Buy in 2024
Will Floki 3x? Stay tuned as the meme coin market heats up!
