Analysts Bullish On FLOKI As Price Surges 9.8%, New ATH Soon?
Floki Inu (FLOKI) performed stellarly this month, with crypto analysts and traders forecasting bullish moves for the token. As the crypto market recovers from its slowdown, with Bitcoin (BTC) leading the way, the dog-themed token appears to be preparing to take off.
Analysts Share Bullish Forecasts For FLOKIs Future
Two weeks ago, analysts considered that FLOKI was showing a strong performance amid the crypto market slowdown. The token, which has been on an upward trajectory since the end of February, held up nicely at the time.
While most of the market registered considerable dips, FLOKI was one of the tokens consolidating before another expansion. Halfway through the month, the Viking dog-themed cryptocurrency had shown a 337% growth since March 1st, after hovering between $0.000028-$0.000039 for the first two months of 2024.
Now that March is near its end, FLOKI exhibits a staggering 428.3% increase in the last 30 days. This performance didnt go unnoticed by crypto analysts, who forecast new heights for the token.
MacroCRG, a crypto trader and market analyst, shared his thoughts on the tokens price. The analyst considers that beyond FLOKIs impressive performance throughout the month, it was showing strength on LTFs too.
$DOGE leading the charge, just hit a fresh 121 week high
This is wildly bullish for other blue chip memes$FLOKI showing strength on LTF's too
As long as this recent low holds, fresh highs soon IMO pic.twitter.com/cmPn89x7a7
CRG (@MacroCRG) March 28, 2024
In the posts chart, the trader highlighted the performance since Monday, pointing out the tokens support zone above the $0.00022 price range. According to MacroCRG, as long as this recent low holds, fresh highs soon.
Similarly to MacroCRG, analyst Crypto Kaleo drew attention to the dog-themed tokens LFT, claiming it looks like its starting to send.
Something like this for $FLOKI pic.twitter.com/dEUa9pBUvi
K A L E O (@CryptoKaleo) March 28, 2024
In his posts, Kaleo suggested to his followers not to sleep on FLOKI here. According to the analyst, the token wont be lagging behind ATH resistance too much longer. He concluded that sooner rather than later, FLOKI could make new heights like the DOGE chart.
Lastly, crypto analyst The CryptoBull shared his bullish prediction about the token, suggesting it is going through a beautiful re-accumulation phase. Additionally, the analyst stated he noticed a shift in interest for the dog-themed memecoin, as crypto is very momentum driven.
FLOKI Price Action
As of this writing, FLOKI has surged 7.7 % in the past hour, with the price briefly surpassing the $0.000260 mark before retracing to the $0.000255 level.
In the last 24 hours, the token has increased 9.8%, trading at $0.0002554. Despite the remarkable long-term performance and the recent surge, the token is still registering a 10.6% correction from its performance in the biweekly timeframe.
Its market capitalization rose to $2.39 billion, an 8.4% surge in the past day. By this metric, FLOKI is the fifth largest memecoin and the 56th largest cryptocurrency, according to CoinMarketCap data.
Moreover, the daily trading volume suggests that the token has recently experienced a surge in market activity. It has increased 56.6% from the day before, with $690.6 million traded.
Read more: https://www.newsbtc.com/news/analysts-bullish-on-floki-as-price-surges-9-8-new-ath-soon/
Text source: NewsBTC
