Floki Inu (FLOKI) has performed excellently this month, with crypto analysts and traders predicting bullish moves for the token. As the crypto market recovers from its downturn, with Bitcoin (BTC) leading the way, the dog-themed token appears to be getting ready to take off.
Analysts Share Optimistic Predictions for FLOKI’s Future
Two weeks ago, analysts considered that FLOKI was showing strong performance amid the crypto market downturn. The token, which has been on an upward trajectory since the end of February, “held up well” at the time.
While most of the market saw considerable declines, FLOKI was one of the “consolidated before another expansion” tokens. At mid-month, the Viking dog-themed cryptocurrency showed 337% growth since March 1, after fluctuating between $0.000028 and $0.000039 in the first two months of 2024.
Now that March is nearing the end, FLOKI has seen an impressive increase of 428.3% in the last 30 days. This performance did not go unnoticed crypto analystswhich predicted new heights for the token.
MacroCRG, a crypto trader and market analyst, shared his thoughts on the token’s price. The analyst considers that in addition to FLOKI’s impressive performance throughout the month, it was “also demonstrating strength in LTF”.
$DOGE leading the charge, hit a new 121-week high
This is extremely bullish for other blue chip memes$FLOKI also showing strength in LTF’s
As long as this recent low holds, new highs coming soon, IMO pic.twitter.com/cmPn89x7a7
-CRG (@MacroCRG) March 28, 2024
In the post’s chart, the trader highlighted the performance since Monday, pointing out the token’s support zone above the US$0.00022 price area. According to MacroCRG, “as long as this recent low remains, new highs will follow soon”.
In the same way as MacroCRG, Crypto analyst Kaleo caught attention to the dog-themed token’s LFT, claiming it looks like it is “starting to ship.”
Something like this for $FLOKI pic.twitter.com/dEUa9pBUvi
-KALEO (@CryptoKaleo) March 28, 2024
In his posts, Kaleo suggested to his followers “not to sleep in FLOKI here”. According to the analyst, the token will not be “behind ATH resistance for much longer.” He concluded that sooner or later, FLOKI could reach new heights “like the DOGE chart.”
Lastly, crypto analyst The CryptoBull shared his bullish prediction on the token, suggesting is going through a “beautiful phase of reaccumulation”. Furthermore, the analyst stated he noticed a shift in interest in the dog-themed memecoin as “crypto is very driven by momentum.”
FLOKI Price Action
As of this writing, FLOKI is up 7.7% in the last hour, with the price briefly surpassing the $0.000260 mark before returning to the $0.000255 level.
In the last 24 hours, the token appreciated by 9.8%, trading at US$0.0002554. Despite the remarkable long-term performance and recent surge, the token is still up 10.6%. correction based on your performance in the fortnightly period.
Its market capitalization rose to $2.39 billion, an increase of 8.4% on the previous day. By this metric, FLOKI is the fifth largest memecoin and the 56th largest memecointh largest cryptocurrency, according to data from CoinMarketCap.
Furthermore, the daily trading volume suggests that the token has recently seen an increase in market activity. It increased 56.6% compared to the previous day, with US$690.6 million traded.
Floki is trading at $0.000263 in the 3-day chart. Source: FLOKIUSDT on Tradingview.com
Featured image from Unsplash.com, chart from TradingView.com
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