Shiba Inu Competitor FLOKI Poised For Dogecoin-Like Rally, How High Can It Go?
The post Shiba Inu Competitor FLOKI Poised For Dogecoin-Like Rally, How High Can It Go? appeared on BitcoinEthereumNews.com.
A crypto analyst has predicted that prominent meme coin and Shiba Inu competitor, Floki (FLOKI) is poised to witness a Dogecoin-like rally to new levels. This bullish projection comes on the heels of Floki’s recent listing on the leading crypto exchange, Bitstamp. Analyst Anticipates Major DOGE-Like Upswing For Floki In an X (formerly Twitter) post on July 26, a crypto analyst identified as ‘Scofield’ shared a highly optimistic outlook on Floki, underscoring the cryptocurrency’s core strengths and its substantial potential for future growth. Scofield observed that dog-themed meme coins like Dogecoin (DOGE) and Floki have been showing strong performance during the current crypto market recovery. With a market capitalization surpassing $19.4 billion and $10.13 billion, Dogecoin and Shiba Inu respectively are regarded as the leading cryptocurrencies amongst meme coins. Meanwhile, Floki, with a market capitalization of over $1.72 billion, is positioned as a major contender to SHIB, and is expected by the crypto analyst to closely follow Dogecoin’s bullish price movements. In his post, Scofield hinted that Floki could be on the verge of a Dogecoin-like rally, observing that the meme coin has been recently acting as a “Dogecoin Beta.” This description suggests that Floki has been behaving like a more volatile version of Dogecoin. Scofield has maintained a strong bullish stance on Floki’s future price outlook, emphasizing that the cryptocurrency has proven its durability over time while possessing strong fundamentals. While the analyst has not stipulated how high the popular meme coin is set to rally, he disclosed that several major upcoming events could serve as significant catalysts to further boost Floki’s performance. Total crypto market cap currently at $2.3 trillion. Chart: TradingView Speaking of bullish events, on July 25, Bitstamp announced that it has extended support for Floki on its exchange. This news came as a pleasant surprise…
Filed under: News - @ July 28, 2024 5:14 am