ANALYSIS INFO - The current decline in the crypto market has sparked debate among investors and analysts. With varying views on the prospects of the FLOKI meme token, some analysts see it as an opportunity for accumulation, while others remain wary of the possibility of further declines.
FLOKI Accumulation Opportunity According to Analyst Scofield
Renowned crypto analyst Scofield recently shared his views on the current market downturn, believing that the situation presents an opportunity for smart investors to re-accumulate valuable assets.
FLOKI, according to Scofield, is one of the favorite tokens among institutional investors or smart money.
"FLOKI seems to be a favorite among smart money, as it has strong institutional support and fundamentally outperforms other top memecoins like PEPE, WIF and SHIB," Scofield said in a tweet on X.
Based on this, Scofield believes that FLOKI will follow in the footsteps of Dogecoin (DOGE) in the upcoming bull run. He sees great potential for this token to dominate the market like DOGE did before.
Different Views from Early Investor Dona
However, Scofield’s views are not entirely shared by all analysts. Early crypto investor Dona is more skeptical about FLOKI’s short-term performance.
According to him, this token is still in a bearish trend and will likely experience one more decline before finally reaching a recovery point.
Dona predicts that FLOKI price will drop below the US$0.0001 level and bounce around US$0.0000682 before starting to move up again.
Latest FLOKI Price Conditions
At the time of writing, FLOKI is trading at around $0.0001209, having dropped 2.18 percent in the past 24 hours. With a market cap of around $1.16 billion, FLOKI remains a major player in the meme token market, despite its high volatility.
