December 7, 2023 2:45 AM | 2 min read
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A pseudonymous cryptocurrency analyst on Wednesday hinted at the potential for FLOKI (CRYPTO: FLOKI), a meme coin, to experience a 40% surge.
What happened: This comes as the top meme cryptocurrency Dogecoin (CRYPTO: DOGE) reached $0.10 levels on Monday. “As we start to see a bit more action across DOGE and meme coins, I wouldn’t sleep on $FLOKI,” the analyst wrote on X.
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Kaleo drew comparisons between FLOKI and a Solana (CRYPTO: SOL) based meme coin, BONK (CRYPTO: BONK). The analyst observed a pattern in FLOKI’s recent price movements, recalling, “The retrace after last night’s retest reminds me of what we saw when BONK retested its ATH a couple of weeks [ago]. There was a brief pullback/accumulation period before a move to price discovery. I think we’ll see something similar here.”
At the time of writing, FLOKI was trading at $0.000040. BONK was trading at $0.0000091.
Further underlining the similarities, Kaleo provided a short-term technical analysis comparing the BONK and FLOKI breakout models: “Structural similarities are incredibly similar. A 40% move for FLOKI isn’t too crazy considering it still would be 20% below its ATH.”
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Meanwhile, in a Monday AMA with the Floki community, Floki’s Head of Operations B, provided an update on the much-anticipated game Valhalla, their upcoming play-to-earn NFT metaverse game.
“Based on careful analysis of the data, and the fact that we can only do this mainnet launch once — and also due to the fact that the success of its launch could be of existential significance to Floki, we will only launch Valhalla mainnet during perfect market conditions,” B said during the AMA.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Options 101: The Beginner’s Guide
Want to become an options master? In his free report, options expert Nic Chahine will give you access to the four bulletproof tips for beginners, the secret to scoring 411% gains with options, and his time-tested “plan” for success. Grab your free copy of Options 101: The Beginner’s Guide ASAP.
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