FLOKI: Crypto Analyst Predicts a Breakout for the Meme Currency
FLOKI has again attracted the attention of the market as a competitor to the Shiba Inu. Previously, a well-respected crypto analyst Bluntz predicted on social media that the meme currency is expected to rise sharply in the future. Although FLOKI, which rose more than 50% in May, is currently in a correction phase, analysts remain optimistic about its prospects.
Prepare for FLOKI's Breakout
In his latest analysis, Bluntz compared FLOKI with PEPE, another meme currency on Ethereum, which briefly surpassed many top cryptocurrencies in May. He pointed out that FLOKI's pricing model has similarities with PEPE and predicted that this trend may continue.
Shift in Crypto Market Sentiment
The crypto market has experienced a big shift in sentiment with the release of Grayscale's report on the approval details of the Bitcoin spot ETF. Against this backdrop, Bluntz reiterated his belief in the potential for the meme currency to break out. He observed that the meme currency is forming higher lows and higher highs, which is historically usually a positive sign of rising prices.
FLOKI's future trend
While experts expect FLOKI to continue to rise, they also point out the resistance points that the currency faces. However, based on the 1-2 day line chart pattern, FLOKI seems to have the potential to continue to rise. Bluntz specifically pointed out that he expects FLOKI to rise by more than 100% and pegged the meme currency at $0.00075, which is more than 200% higher than the current price.
Bitcoin and FLOKI linkage
It is worth noting that FLOKI has also faced some negative pressure as Bitcoin fell below $68,000. Since May, FLOKI's price has fallen from $0.0003 to $0.000246. However, if Bluntz's prediction is accurate, FLOKI may soon usher in a rebound.
Market trusts Bluntz's prediction
Due to Bluntz's accuracy in predicting Bitcoin's bottom in the past, the market has paid close attention to his latest prediction. Many investors and traders are closely watching FLOKI's trend in the hope of verifying the analyst's point of view.
Shiba Inu vs. other meme coins
Many meme coins, including FLOKI, have fallen along with other cryptocurrencies over the past day.Shiba Inu fell more than 5.2%, which caused it to lose some of its gains in a day. Meanwhile, its rival Dogecoin also encountered difficulties, falling 3.7% yesterday and 4.1% last week. On the daily and weekly charts, PEPE fell 11.1% and 5% respectively. Despite this, investors are still keeping an eye on the future of meme currencies and expect them to show strong upward momentum again.
