As a seasoned crypto investor with a keen interest in meme coins, I’ve witnessed firsthand the rollercoaster ride that FLOKI and its counterparts have taken us on. The recent prediction by crypto analyst Blunts about FLOKI’s potential upside has once again piqued my interest in this meme coin.
The cryptocurrency world is abuzz once more about Shiba Inu‘s competitor, FLOKI, following a crypto analyst’s forecast that the meme token could experience significant price growth. This renewed attention comes as FLOKI currently undergoes a correction after surging nearly 50% in May.
Get Ready For FLOKI Breakout
As a crypto researcher, I’ve been closely monitoring the meme coin scene, and on Tuesday, I took note of FLOKI’s potential on what used to be known as Twitter. Initially, I drew parallels between FLOKI and PEPE, another Ethereum-based meme coin that surged ahead of top coins in the market back in May. Based on current price trends, I believe FLOKI may follow a similar trajectory.
In a subsequent post, the cryptocurrency analyst strongly reaffirmed their opinion on the meme coin, asserting that it has already begun to surge based on its current trend of forming successive higher lows and higher highs. According to Blunts’ analysis, this pattern is historically indicative of a bullish price movement.
Moving forward, the analyst anticipates that the coin will keep gaining value, albeit encountering several barriers of resistance. Using the daily chart as a reference, he identified a potential 1-2 pattern, implying that FLOKI is likely to persist in its upward trend.
Regarding the projected price hikes, Bluntz anticipates a significant gain of over 100% in FLOKI’s value. This optimistic forecast places the peak of this upward trend at approximately $0.00075. Given the current market pricing, achieving this level would represent nearly a double return for investors in this meme coin.
Currently, FLOKI is facing bearish market conditions due to Bitcoin‘s price drop below $68,000. This downturn caused FLOKI’s price to plummet from its peak of $0.0003 in May to the current level of $0.000246. However, if Bluntz’s prediction is accurate, then FLOKI may experience a significant rebound soon.
Blurtz’s forecast is gaining traction in the financial world thanks to his past successes. Notably, in 2018, Blurtz became a household name in the cryptocurrency sector by correctly identifying the Bitcoin price minimum.
Shiba Inu And Other Meme Coins
FLOKI isn’t the only meme coin experiencing price decreases in the last day. For instance, Shiba Inu has dropped by over 5.2% within this timeframe, following a robust rally of around 16% on Wednesday. This decline has effectively wiped out approximately half of Shiba Inu’s gains from the previous day.
Progressing through the list, Shiba Inu’s major competitor Dogecoin experiences a setback. The popular meme coin has suffered a loss of 3.7% in the past day and 4.1% over the last week. Similarly, PEPE‘s value decreases on both the daily and weekly price charts, with drops of 11.1% and 5%, respectively.
The price of BONK, one of the leading meme coins, has experienced a substantial decrease. According to CoinGecko, its value dropped by 18.8% in just the last day, with an additional 5.6% loss over the past week. Similar trends have been observed in other popular meme coins like Dogewhiz and Book of Meme (BOME).
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2024-05-31 03:11