FLOKI, a Shiba Inu competitor, will explode, says 2018 Bitcoin Bottom analyst

Shiba Inu competitor FLOKI is back in the news after a crypto expert projected big gains for the meme currency. The currency FLOKI, which rose over 50% in May, is now backtracking.

Prepare for FLOKI Breakout

On Tuesday, crypto analyst Blunts discussed FLOKI and its possibilities on X (previously Twitter). He first likened FLOKI to PEPE, another Ethereum-based meme currency that beat top cryptocurrencies in May. FLOKI's pricing pattern resembled PEPE's, and he expects it to continue.

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The crypto expert repeated their belief that the meme currency is breaking out in a follow-up piece. The meme currency is making higher lows and higher highs, which Blunts said is optimistic for the price based on history.

The expert anticipates the currency to rise higher, but with many resistance points. FLOKI may continue to advance due to a 1-2 daily chart pattern.

Bluntz expects FLOKI to rise above 100%. The crypto expert values the meme currency at $0.00075, which is over 200% more than its current price.

FLOKI is under negative pressure due to Bitcoin's drop below $68,000. This has dropped the currency from $0.0003 to $0.000246 since May. If Bluntz's prognosis is accurate, FLOKI might restart shortly.

Due to Bluntz's accuracy, the market is buying his prognosis. Bluntz became prominent in the crypto industry in 2018 for correctly predicting Bitcoin's bottom.

Shiba Inu, Meme Coins

In the past day, meme coins like FLOKI have fallen along with other values. The 16% rally on Wednesday had left Shiba Inu down more than 5.2% in the past day. Shiba Inu lost 50% of its profits from the previous day.

Down the list, Shiba Inu's largest competitor Dogecoin is also struggling. The top meme currency lost 3.7% yesterday and 4.1% last week. On the daily and weekly charts, PEPE has lost 11.1% and 5%, respectively.

#memecoins #FLOKI #SHIB $FLOKI