- FLOKI experienced an impressive 33% surge over the past seven days.
Long-term holders anticipate FLOKI to surge past the $0.00020 resistance level.
As a seasoned crypto investor with a knack for spotting trends and identifying potential, I’ve been closely watching Floki Inu [FLOKI] over the past few weeks. The impressive 33% surge it experienced over the past seven days has certainly caught my attention.
Over the past week, there’s been a significant rise in the value of Floki Inu [FLOKI]. This surge was accompanied by a substantial increase in transaction activity and shrewd decisions from long-term investors. As a result, the price soared by an impressive 33%.
As I analyze current market conditions, I find that Floki, at this moment, is trading at approximately $0.00015512. Notably, its market capitalization has experienced a notable increase of around 5%, currently standing at a substantial $1.48 billion.
As a crypto investor, it’s not surprising at all to see a memecoin gaining traction among the community with the current bull run we’re witnessing in Bitcoin and altcoins.
Additionally, there are further factors fueling this increase. Specifically, on the 29th of August, FLOKI is set to capture a list of its token holders for a subsequent distribution of CAT tokens associated with Simon’s Cat.
In simpler terms, those who hold FLOKI on Binance will receive 10% of the total CAT tokens, whereas on-chain holders will be given 3.5%.
Is it feasible that FLOKI will continue with its approach of distributing CAT tokens as incentives to its users over a prolonged period? Let’s explore that question through an analysis by AMBCrypto.
Airdrop conditions boost FLOKI’ short-term growth
According to a recent announcement from the team behind X (previously known as Twitter), it was disclosed that in order to participate in the airdrop, individuals need to possess a minimum of 400,000 FLOKI tokens on Binance.
Furthermore, Binance conducted the first snapshot on the 22nd of August.
Upon its release, I observed an impressive doubling of the Total Value Locked (TVL) for my meme token on the Binance Smart Chain (BSC) network, surging to a staggering $26.3 million.
This demonstrated a rise in investor trust and an uptick in engagement within the system, with more individuals securing or binding their tokens to qualify for airdrops and potentially earn CAT rewards.
Source : DeFiLama
As a result, analysts are anticipating a significant response following the second update on August 29th. With more than 70% of FLOKI owners currently seeing profits, there’s a palpable sense of short-term enthusiasm in the air.
Source : IntoTheBlock
Looking ahead, the excitement about potential future gains might boost the token’s value. This level was significant as it was recently tested at approximately $0.00015 following the initial snapshot.
The price trend is backed by a favorable Chaikin Money Flow (CMF) and a rising Relative Strength Index (RSI), suggesting a surge in buying power and possible future growth, which points to a bullish outlook.
In simpler terms, the temporary increase in the token’s value might be due to a rewards system for its holders and a general optimistic financial atmosphere fueled by the surge of Bitcoin.
As a crypto investor, I’m pondering over the potential of FLOKI surpassing its prior resistance point. Delving into the current market dynamics, AMBCrypto has shed light on some intriguing insights that might just be the key to unlocking this possibility.
Confidence among long-term holders could fuel the price
Analysts are intrigued by the present surge of Bitcoin’s value and are considering if FLOKI might escalate to reach the potential price level of $0.00020.
Based on AMBCrypto’s examination, the on-chain information indicates a rise in optimism from long-term investors, implying their belief in the token’s prospect for additional increases.
Initially, on the day of the initial screenshot, the number of daily active addresses dramatically increased from approximately 1,700 to 14,000. Meanwhile, the average coin age reached a staggering 1.05 trillion, implying that long-term holders are steadfastly holding onto their investments.
Source : Santiment
Additionally, the recent growth pattern resembles the trend observed around mid-July, during which the token value exceeded $0.00020.
Read Floki Inu [FLOKI] Price Prediction 2024-2025
Additionally, AMBCrypto highlights that the CAT strategy might bring in even more participants, potentially increasing the total transaction volume on the network.
Combined, these elements might drive the meme coin past its earlier resistance points, potentially triggering another upward price trend.
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2024-08-26 23:04