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Floki surges massively this year with analysts predicting another 2x gain in 2024, while PlayDoge raises $5.5m in its presale, showing potential for significant growth.
Floki has proven an unstoppable force this year, with its price surging over 500%. However, a prominent analyst anticipates another 2x gain in 2024.
Floki bullish on technical and fundamental facets
The project is at a significant year-on-year premium, and renowned trader CryptoKnight is bracing for substantial gains ahead.
In a recent chart analysis on Twitter (X), the analyst suggested that it’s time for Floki to breakout after a 56% selloff from its June all-time high (ATH).
Based on CryptoKnight’s prediction, Floki is gearing up to reclaim the $0.00018 level, triggering a parabolic run beyond $0.0003. From Floki’s current price of $0.00015, this will entail more than a 2x price increase.
$floki breakout sooon ? pic.twitter.com/FPNgzeCKdQ
— KNIGHT $INJ TO 100$ (@cryptoknight890) July 2, 2024
While CryptoKnight bases his outlook on technical analysis, other analysts highly regard Floki’s fundamentals.
For instance, Crypto Scofield underscores that Floki has real utility, which will translate to improved tokenomics.
“One of the many reasons I’m so bullish on Floki is its new trading bot. Half of its trading fees will be used to buy and burn FLOKI tokens, which is very significant for its ecosystem since it can generate millions in monthly revenue,” he said.
Similarly, Jay Hiizzy praised Floki’s innovative ecosystem, drawing attention to its Play-to-Earn (P2E) game, staking, and other features. The analyst believes that Floki’s expansive ecosystem will lead to mass adoption.
I have been in crypto since 2019Since joining, I have found no projects that even come close to the value $FLOKI has to offer! Considered just another “meme coin” by most, #FLOKI actually has utility to offer– Valhalla (Metaverse Game)– FlokiFi Locker ($85,000,000 TVL)-… pic.twitter.com/YspBbFUlOa
— Jay Hizzy (@JayHiizzy) June 4, 2024
Indeed, the project’s widespread backing, and 500% yearly return must not be overlooked. It has massively outperformed other large memecoins like Dogecoin and Shiba Inu, which are up 69% and 119%, respectively.
And with analysts singing its praises, there’s a good chance this momentum continues. Floki’s bullish outlook likely stems from two places: its remarkable token utility and its lower market cap than projects like DOGE and SHIB.
However, another memecoin also fits this bill but has a significantly lower valuation. The project is called PlayDoge and is currently undergoing a presale.
This means market participants can buy in at a fixed and discounted rate before it launches on exchanges.
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P2E memecoin PlayDoge raises $5.5m at presale
PlayDoge is a compelling mash-up of nostalgic gaming, memecoin allure, and cutting-edge financial engineering.
It is inspired by the 1990s Tamagotchi game, in which users cared for a virtual pet, ensuring it was happy and healthy. Tamagotchi captivated the masses with this concept, selling over 82 million copies.
But the PlayDoge reboot replaces the Tamagotchi pet with an 8-bit doge and is underpinned by a robust token economy. Users will earn PLAY by engaging with their pets.
However, they must hold PLAY to receive rewards, and the token can also be used for in-game purchases and staking. That’s bucketloads of token utility to help bolster its price.
PlayDoge has caused a huge buzz among industry experts, with analysts optimistic about the project’s earning potential. For instance, Crypto Wire underscored that there are huge staking rewards at play.
He also notes that the project has an impressive roadmap and tokenomic distribution, marking a significant distinction from most other memecoins.
The PlayDoge presale has raised $5.5 million so far. Evidently, it has fared as a favorite among investors alongside industry analysts.
The current price is $0.00517, but this will rise throughout the campaign with the next increase in one day.
To learn more, visit the PlayDoge presale.
Read more: Notcoin drops 9% while PlayDoge raises $5.5m in presale
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