One cryptocurrency expert has even gone so far as to say that Floki (FLOKI) may become the Dogecoin (DOGE) of this current bull run—the fortunate meme coin that manages to steal the show. Floki fans would be ecstatic if this prediction comes true, particularly since the meme currency is still gaining popularity despite its price drops.
"The Dogecoin Of This Bull Run" Will Be Floki
According to crypto expert Scofield, investors may take advantage of the current market downturn by purchasing cryptocurrencies at a discounted price and building their portfolio. Prominent cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), have recently fallen significantly due to gloomy sentiment that has afflicted the market.
Amidst wider market instability, even well-known joke coins like Dogecoin and Shiba Inu (SHIB) have seen their prices fall. This highlights the fact that investors are showing less interest in these meme-based cryptocurrencies. Scofield views the current market downturn as an excellent opportunity for investors, while many others see it with pessimism.
Floki, named after Elon Musk's dog, is one cryptocurrency that the analyst thinks has a lot of potential. Musk is the CEO of SpaceX. Floki has been a favorite among smart money investors, Scofield said, thanks to its strong institutional support.
Furthermore, Scofield revealed that, relative to other well-known meme currencies like as Pepe (PEPE), Dogwifhat (WIF), and SHIB, Floki has done better in terms of fundamentals. Consequently, the expert thinks Floki might become the Dogecoin of the next bull, suggesting that the meme currency with a Viking motif could make a lot of money during this bull run.
Despite the fact that many Shiba Inu advocates may vouch to this forecast, SHIB has long been hailed as the "Dogecoin Killer." Although Floki's price has dropped recently, it has maintained a positive perspective, unlike Shiba Inu. News of the cryptocurrency's charity drive to construct a school in India caused its price to skyrocket.
The price of Floki has risen by 2.39 percent and its market value has climbed by 1.92 percent in the last 24 hours, according to statistics compiled by CoinMarketCap.
Another Low Set for Floki Predicted by Analysts
Dona on X, a crypto analyst, has issued a warning about Floki, stating that the meme currency may hit rock bottom before heading up again. A decline below $0.0001 for Floki was foreseen earlier on July 8, according to the expert.
Dona has now provided more evidence of his claim by sharing a pricing chart that highlights the meme coin's ongoing negative trajectory. According to his prediction, Floki's price may soon go below $0.000085. With Floki's stock having fallen over the previous few weeks, this gloomy forecast comes at a bad time.
According to CoinMarketCap, FLOKI's price has plummeted 22.84 percent in the last seven days, and it is now trading at $0.00012.