Floki Inu (FLOKI), a renowned dog-based meme cryptocurrency functioning atop the Ethereum blockchain, garnered significant investor attention today as its price rallied nearly 15%. Coming in tandem with a stockpile of bullish on-metrics, this rising price trajectory for FLOKI fueled immense market optimism among crypto market participants globally.

Amidst the phenomenal price rally embarked upon by Floki Inu, a crypto market analyst further spotlighted vital insights into the meme token’s current market dynamics. Following a post shared on X today, a splash of bullishness drove crypto market traders and investors into a frenzy, expecting further gains for the token ahead.

Analyst Foresees 3x Rally For Floki Inu

The latest update from crypto market analyst Captain Faibin appears to have ignited bullish waves orbiting FLOKI across the vast sea of crypto. In a post shared on X today, the analyst drew attention to Floki’s illustration of a breakout from a bullish flag pattern on its daily timeframe chart, injecting a dose of optimism into the dog-based meme token.

Notably, a bullish flag pattern suggests a brief consolidation within an uptrend for the token, followed by a rising price trajectory. To this, the analyst further added, “Looks Promising for 2-3x Bullish Rally,” flagging a continued bullish momentum for Floki Inu. 

This remark by the analyst, emerging amidst the remarkable 15% price rally embarked upon by FLOKI, further pushed the token to take a bullish stage today. 

Also Read: Dogwifhat (WIF) Price Skyrockets Over 20%, Here’s Why

Floki Inu Rallies With Strong Market Uptrend

Meanwhile, the Floki Inu token’s price witnessed gains of 15.74% in the past 24 hours and is currently trading at $0.000196. Its 24-hour lows and highs are $0.000168 and $0.0002052, respectively.

FLOKI’s open interest surged 41.28%, reaching $16.66 million, whereas the derivatives volume skyrocketed 218.42%, reaching $178.31 million. This data underscored a strong market uptrend for Floki Inu, further fueling market optimism on the token as investors portray a heightened interest in the asset. 

Meanwhile, it’s worth noting that if further buying pressure prevails in the market, the analyst’s remarks could potentially come true. The liquidation for FLOKI totaled $48.78K, additionally underlining a reduced selling pressure. This paints an optimistic scenario for Floki Inu ahead, propelling bullish market sentiments on the token’s price action.

Also Read: Bitcoin (BTC) Ownership Landscape Sees Major Shift, New Whales Accumulate

The post FLOKI Price: Analyst Predicts 3X Rally As FLOKI Soars 15% appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am