On Tuesday’s U.S. trading session, Floki’s price jumped 15% to reach $0.00013. Contrary to the general market apprehension, this meme-based cryptocurrency experienced a significant increase in investment, possibly due to its increased visibility in the English Premier League. Will this upward trend continue?
Floki Price Eyes Rally with EPL Exposure
The fun and entertaining meme coin, Floki, combines popular internet culture with increasing practical applications. As part of a fresh one-year contract, the FLOKI token and its play-to-earn game called Valhalla will be showcased prominently on various English Premier League (EPL) broadcasts and digital platforms.
1. In the world of English soccer, the Premier League stands as the top tier, featuring 20 teams in competition. Meanwhile, the Floki token has formed an alliance with Nottingham Forest, and their Valhalla-themed game is showcased on the Sunderland AFC uniform.
At #Floki we don’t just talk.
This is only the beginning…
To #Valhalla
— Sabre (@SabreEthereum) August 9, 2024
As a researcher, I’m excited to share that this sponsorship deal extends to the incorporation of Floki in various in-game advertisements across all league matches. This strategic move will offer an incredible platform for the meme-inspired cryptocurrency to garner significant visibility and recognition from a vast audience of football enthusiasts, approximately three times during each game. These types of promotions not only enhance brand awareness but also stimulate interest and demand in the related cryptocurrency.
Consequently, it’s possible that the value of Floki may experience a strong surge in the upcoming months, encouraging buyers to halt its 11-week downtrend.
Floki Coin Signals Major Breakout
Since June 2024, the price of Floki has been gradually decreasing due to the development of a falling wedge pattern, leading to a bearish trend. This downturn has caused the asset’s value to drop from $0.000349 to $0.000126, resulting in a significant loss of approximately 63.7%.
Despite a rise in FLOKI’s price today, there’s a hint of a breakout from the resistance line of the wedge pattern, which could potentially transform into supporting evidence. This shift may fuel a surge in bullish energy, suggesting a possible turnaround in the trend.
As an analyst, I’m observing that the daily Relative Strength Index (RSI) is trending upward towards the 50% line, which suggests a strengthening bullish sentiment for this asset. Following its breakout, there’s a possibility this could reach a peak of $0.00021, potentially yielding a substantial gain of approximately 67%.
However, if there’s a death cross between the 50-day and 100-day Exponential Moving Averages, it could challenge the bullish argument. If the breakout doesn’t hold, the price of Floki might decrease by around 20%, potentially testing the support at $0.00002.
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2024-08-20 23:36