FLOKI Price Prediction as FLOKI Rockets Up 212% – Can it Overtake Shiba Inu?
The FLOKI price has jumped by 44% in the past 24 hours, with its surge to $0.0001943 also marking a 212% gain in a week.
The meme coin has been one of the top-100’s best performers in recent weeks, with it also sitting on an impressive 480% increase in a fortnight and a 590% rise in a month.
These gains come as Floki benefits from growing attention from whales and more word of mouth among traders, with the token outperforming its biggest rivals.
And given its momentum, it could continue rising up the rankings in terms of market cap, potentially reaching the likes of Shiba Inu and Dogecoin.
FLOKI has been going from strength to strength in recent weeks, with the coin shooting up at the start of March, declining a little, and then shooting up again in the past couple of days.
Its indicators reflect this momentum, with its relative strength index (purple) rising back above 80 today after dipping sharply towards 70 earlier in the week.
Normally, a reading over 80 would indicate that a coin is firmly in an overbought position and should decline soon, yet it’s clear that FLOKI – like many other coins – is currently in a price discovery phase in the context of a new bull market.
The market had neglected FLOKI for months, implying that it still has plenty of time to continue rising before it risks a steep and prolonged correction.
Also, whales have been betting that FLOKI will make even bigger gains in the near future, with recent data showing some big transfers off of exchanges.
A fresh wallet withdrew 28.19B $FLOKI($4.29M) from #Binance 40 mins ago.https://t.co/aJRdOG7A8T pic.twitter.com/M5I3gzVaCh
— Lookonchain (@lookonchain) March 5, 2024
In terms of fundamentals, there isn’t any particularly compelling reason why the FLOKI price
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