LIVE$Hy auditions 👋 !The Floki DAO burn initiative has ignited a surge in Floki's price, signaling a potential start to a new bullish trend after a period of correction lasting ten weeks. With a market capitalization of approximately $1.8 billion and a daily trading volume averaging around $447 million, Floki has seen a 30% increase in the past four weeks, reaching $0.00019 during the early London session on Tuesday.
Several factors are contributing to Floki's upward momentum. The success of Dogecoin in previous crypto bull markets has inspired a new wave of meme coins, including Floki Inu, Shiba Inu, and Pepe. Additionally, the announcement of the Meme Coin Index by VanEck's MARKETVECTOR, which includes the six largest meme coins including Floki, has further boosted interest in Floki.
Floki has also become a deflationary asset through regular burns on the chain, with a recent DAO offer burning over 15 billion coins valued at around $3 million. The emergence of Roaring Kitty, a meme coin stock phenomenon, has further contributed to Floki's recent price increase, with predictions from analysts suggesting a significant rise in the coming weeks.
According to crypto analyst Captain Faibik, Floki's price has shown consistent upward momentum over the past two months. To sustain this bullish trend, it's crucial for Floki's price to surpass the constantly falling logarithmic trend. If this momentum continues, Faibik predicts that Floki's price could potentially increase by at least 200% in the near future.
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