FLOKI, the “people’s cryptocurrency” has emerged as a strong contender, sparking speculation about its price directions. As enthusiasts closely watch its every move, the question arises: Floki Inu, the meme coin on Ethereum about to reach new, record-breaking price levels? This article investigates the reasons behind this speculation. to assess if FLOKI price is ready for a significant increase in value.
Market Performance of FLOKI Price
FLOKI is currently trading at $0.0002144, having increased in value by 0.49%, 19.88% and over the past day, 48.24%, over the past day, week and month respectively. It recorded a 24-hour trading volume of $485.48 million, with a market capitalization of $2.05, securing 53rd position in the market.
Although the Floki Inu token hit an all-time high of $0.0003437 on November 4, 2021, it has dropped by 37.15%.
Factors That Could Propel FLOKI Price to New All-time High
Various factors could could drive Floki Inu token to new all-time high.
1. New Listing and Strategic Partnerships
A major milestone for FLOKI Inu is its recent listing on Binance Thailand. This recent addition presents new opportunities for investment and expands the coin’s visibility to a larger group of people. Furthermore, through its strategic collaboration with Revolut Business, the largest neobank in Europe, FLOKI is able to extend its audience to more than 40 million users in over 150 countries. This collaboration is an essential part of FLOKI’s plan to establish itself as a popular cryptocurrency, utilizing Revolut’s large number of users to increase its usage.
2. Robust Community and Strategic Developments
FLOKI has a vibrant social media presence, with almost 600,000 followers on X (previously known as Twitter). The recent DAO vote to burn 15 trillion FLOKI tokens showcased the community’s active participation and backing, reflecting positive sentiment. This decrease in circulation, embraced by 99.84% of voters, can reduce the circulating supply and possibly boost the token’s price, improving its value proposition.
Furthermore, FLOKI has achieved notable progress by being offered for perpetual futures trading on Kraken, a prominent US cryptocurrency exchange. The upcoming release of the Valla app is intended to improve the accessibility and functionality of FLOKI, integrating it more deeply into users’ everyday lives and simplifying on-the-go transactions with FLOKI.
3. Bullish Patterns and Market Indicators
Data from LunarCrush showed that FLOKI’s Altrank reached the top spot, a metric that combines social and market activity, suggesting a possible increase in price. Even though the value of FLOKI has decreased recently, the overall market outlook remains optimistic, as shown by its strong sentiment and MVRV ratio of over 25%, indicating a bullish trend.
Moreover, World Of Chart, a popular crypto analyst, recently pointed out a bullish pattern in the price movement of FLOKI. In March, the token adopted a bullish symmetrical triangle formation and recently surpassed it, signaling a possible 100% increase in price. After this sudden increase, FLOKI’s value has seen a growth of more than 15%, indicating it is moving in the right direction towards reaching higher valuations.
Conclusion
The transition of FLOKI Inu from a meme coin to a utility-driven digital currency, alongside its strong community support, recent exchange listings, and key partnerships, sets it up well for future growth. The strategic developments, along with bullish technical signals, indicate that FLOKI may be ready to achieve record highs. Nevertheless, prospective investors must stay vigilant of market fluctuations and closely track important indicators. While FLOKI keeps innovating and expanding its influence, it remains a valuable asset in the growing cryptocurrency industry.
The post Is Floki Inu (FLOKI) Price Poised for New All-Time High? appeared first on CoinGape.
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