While the Bitcoin (BTC) price is trying to rise towards 70 thousand dollars after the last halving event, there are other exciting movements in the cryptocurrency world. In particular, popular meme coins such as Floki (FLOKI), frog-themed Pepe (PEPE) and Solana-based Bonk (BONK) are bullish.
Floki, one of the notable meme coins in the cryptocurrency market, is trading around $0.0002, registering an increase of over 17 percent in the last 24 hours. This rise is supported by Floki’s strong community and ongoing developments behind the project.
Since being partially backed by tech billionaire Elon Musk, Floki has grown significantly into a vibrant web3 ecosystem. This conversion provides the ability to lock the project’s liquidity pool tokens to specific timelines. Floki Locker It allowed the development of important tools such as: With the impact of Floki Locker, the Total Value Locked (TVL) of the project has increased to over $142 million, indicating that Floki is attracting the attention of more and more investors and users.
The FlokiFi project plays an important role in increasing the overall usage of FLOKI tokens, especially in an environment where competition from other meme coin projects is increasing. On Tuesday, a project called Alltoscan announced that it had partnered with Floki Locker to lock $18 million worth of ATS tokens for 15 months. This highlights Floki’s collaborative and innovative approach to the ecosystem, laying a solid foundation for the future growth of the project.
Floki Price Targets
Floki price has risen to the upper limit of the bullish flag pattern and bulls are lining up to retest the all-time high.
According to popular crypto analyst Captain Faibik, the price of Floki could easily rise up to threefold in the coming days. However, some important indicators need to be taken into account to ensure this bullish outlook.
$FLOKI has also Broke out of Bullish Flag on the Daily timeframe Chart. ✅
Looks Promising for 2-3x Bullish Rally in the Coming Days. 📈#Crypto #FLOKI #FLOKIUSDT pic.twitter.com/Q2Jsr3h027
— Captain Faibik (@CryptoFaibik) April 24, 2024
First, Floki’s price must consistently close above the 50-day Moving Average (MA). This is an important indicator that tracks the medium-term movement of the asset and indicates that the uptrend is sustainable. Additionally, the weekly Relative Strength Index (RSI) needs to close above 70 consistently to confirm the bullish trend. The RSI is an indicator that measures whether an asset is overbought or oversold, and staying above the 70 level indicates that the bullish trend is strong.
In conclusion, this uptrend in Floki’s price offers exciting potential, but investors should remain cautious and monitor technical indicators and fundamental factors closely. If Captain Faibik’s prediction comes true, Floki is likely to have a remarkable performance in the cryptocurrency market in the coming days.
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