Memecoin Floki Targets $0.0003 After 28% Daily Gain
thenewscrypto.com 16 July 2024 09:32, UTC - Floki surged 28% in the past 24 hours, rising from $0.0001515 to $0.0001941.
- Analyst Scofield hinted at a big marketing announcement on July 17.
In renewed bullish activity across the cryptocurrency market, propelled by Bitcoin’s recent surge to $63,000, meme coins have once again captured the spotlight. Among them, Floki, a meme-based cryptocurrency inspired by Elon Musk’s dog, has seen significant movements. Today, Floki recorded a 28% increase, pushing its price to $0.0001866 and its market cap to $1.78 billion.
Following a recent downturn that saw Floki plummet from its all-time high of $0.0003462 to a low of $0.00012—marking a steep 65.3% decline. However, the meme coin has recently found stability above $0.00018. This stabilization coincided with a global market recovery, lifting Floki from $0.0001515 to $0.0001941 in a single day. This marked 28% growth and placed it among the top gainers.
At the time of writing, Floki traded at $0.0001866 with a daily trading volume of $464 million. Over the past week, the memecoin has surged by over 30%, reflecting renewed investor interest in meme coins.
Further, analyst Scofield teased a major marketing announcement scheduled for July 17, suggesting it could ignite significant interest in the token.
Will FLOKI Continue Its Rally?
Floki continues its uptrend and is currently trading at levels seen before it hit its all-time high. According to the FLOKI price prediction, breakouts above $0.0002059 are on the horizon. That hints at reclaiming key technical levels like the 50-day and 100-day EMA. If the memecoin sustains momentum, it could propel the crypto to challenge its all-time high resistance of $0.000349.
In cases of market corrections, Floki may find support around established trendlines and prop up a bullish outlook. Looking ahead, the daily chart indicates a sideways mid-term trend, with $0.0001721 and $0.0001289 as pivotal resistance and support levels, respectively. Additionally, meme coins like PEPE, WIF, and MOG follow Bitcoin’s recovery trend.
