The price of Floki Inu has increased by almost 225% this week and is expected to continue.
- Point & Figure charting gives exact analysis for trading possibilities despite the limited trade history and price data.
- A bear trap pattern might form, causing prices to rise even higher.
Floki Inu price activity, albeit limited in history, indicates speculators’ interest. If money exits Floki Inu for fresh FOMO prospects in Floki Inu, Shiba Inu, the cousin of Floki Inu, is highly likely to suffer some deep swings. On each side of the market, there are trade possibilities.
When it comes to investing, one topic that’s been on almost all crypto investors’ minds recently is the emergence of the Dogecoin fever. Crypto investors were well aware that the great Dogecoin would be returning following its summer dip, but few anticipated that it would be sharing the limelight with Bitcoin. Shiba Inu and Floki Inu have both risen to popularity in recent weeks, each with the objective of displacing the currency that inspired them to create their own. The Floki Inu cryptocurrency has lately made a name for itself as a memecoin that should not be taken lightly.
So, where did all of these potential Dogecoin competitors originate from?
Musk VS the Markets
In a tweet from Elon Musk on June 25, he said, “My Shiba Inu would be called Floki.” No one could have predicted that those six words would have the impact that they did. The message soon sparked the imagination of a team of developers of the Shiba Inu community, who worked together to devise a means to capitalize on what they knew was likely to become a popular fad. By the time Musk revealed on September 12 that he had acquired the dog, a token with the same name had already been made available for purchase.
And, despite the fact that the Floki Inu cryptocurrency is two layers away from the real meme coin, there is a compelling reason to treat it as such. Early purchases in Floki Inu had the potential to create large profits – prices rose by 1,500% in only two months, indicating a tremendous potential for profit.
“Whether you believe [Elon Musk] is good for cryptocurrencies or not, he has the capacity to change markets,” Corey, a key part of Floki’s marketing division, told InvestorPlace. “Whether you think Musk is good for crypto or not, he has the power to move markets.” “He did it with DOGE, and he did that indirectly with Shiba,” says the author of the book.
It’s Meme Coin Season With DOGE vs. SHIB vs. FLOKI
FLOKI INU features three main utility projects, including an NFT gaming metaverse, Valhalla, an NFT/merchandise marketplace, FlokiPlaces, and Floki Inuversity, an information platform, in addition to being a meme currency and alleviating global food insecurity.
Price Prediction for FLOKI: Weekly Chart
From a weekly graph overview, the FLOKIUSDT broke over a bearish inside-bar barrier on 18 October, with a price rise of nearly 400% from its initial price, according to pricing data from the Poloniex crypto platform.
With 285 votes, FLOKI INU has a favorable DEXT Rating of 99 & a strong community trust rating of 70.2%. With 217823 holders and a value of 43,440,341,334.51 pooled FLOKI tokens, the project has total liquidity of $20,627.423.75.