Would Floki Price Beat Shiba Inu? Price Prediction After 10% Rally
In the last 24 hours, Floki has risen 12% while meme coins have gained 0.75%.
Even with this overnight increase, Floki's price has only climbed 1.5% since last Friday. This minor rise contrasts with Bitcoin (BTC) and Ethereum (ETH) losses and retracements.
This result shows Floki's durability, especially after its 40.81% drop last month. The yearly increase is still remarkable at 596.28%.
The meme coin's trading volume rose 15.35% to $192.38M in 24 hours, showing increased trader activity.
The FLOKI price approaches key support. Will it surpass Shiba Inu?
FLOKI is poised for additional higher after its morning surge pullback.
Technical analysis of FLOKI price chart. Source: Binance.
Most importantly, FLOKI is nearing an orange support level at $0.00016823. If it bounces from this support, it might gain more as it demonstrates strength.
Its relative strength index (RSI) (purple) is 40, down from 70 in 8 hours. This change indicates a correction as selling pressure rises.
There is no substantial buying or selling pressure at such RSI levels. FLOKI is neutral, leaning bearish.
However, its resiliency positions it for continued growth. In fact, larger patterns may suggest this.
Most importantly, the 30-day moving average (yellow) has risen above the 200-day (blue) in an uptrend. This indicates that short-term momentum is outpacing long-term trend.
Can this challenge Shiba Inu's dominance? Technical indications predict short-term price gains, but fundamentals will likely drive long-term development.
Most importantly, FLOKI is the most notable meme currency of the future generation, using more than just memes and a dedicated community—they have genuine usefulness.
Traders are ravenous as hype-based currencies approach multi-billion dollar market values and their best gains are behind them.
