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Floki Price Prediction: 10% Bounce as Meme Coins Return
FLOKI rose 8% to $0.0001418 today while the cryptocurrency market rose 5% in 24 hours.
FLOKI is down 26% in a week and 21% in a month, but the Ethereum- and BNB-based meme coin has gained 310% in a year.
This positions it for a significant return, with the market prepared for a post-Bitcoin halving boom.
FLOKI outperformed DOGE and SHIB today, therefore it might increase more in the market this year.
As meme coins make a comeback, FLOKI rises 8%. Should you buy?
Given its week-long struggle, FLOKI was poised for a recovery today.
Its relative strength index (purple) rose to 60 in the previous few hours after falling at 30 in the morning.
Since it had been significantly below the 200-day (blue) for so long, its 30-day average (orange) should continue to rise for at least a few days.
This suggests FLOKI's price will rise when its resistance (red) and support (green) levels converge, signaling a significant break in either direction.
Although the coin's volume is up today, it's still down at $150 million.
In contrast, it reached $1 billion to $2 billion in the first part of March, showing actual demand hasn't returned to the currency.
Since whales haven't returned to $FLOKI since emptying their bags in early March, #FLOKI 's price may jump much more once they do.
BTC will profit if the market gets optimistic in the following weeks, as the Bitcoin halving tomorrow might bolster the scarcity narrative.
We may see additional selling as miners adjust to a 50% revenue decrease, but the long-term trend should be up.
The FLOKI price may reach $0.00020 in a few weeks and $0.00030 by summer.
