FLOKI set to gain 100%, cross its ATH? Assessing major levels

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  • FLOKI has been trading in a consolidation phase, a setup that often signals a strong breakout.
  • The number of FLOKI addresses has hit an ATH, highlighting growing adoption.

As a seasoned analyst with over two decades of experience in the cryptocurrency market, I have seen my fair share of bull runs and bear markets. However, when it comes to Floki [FLOKI], the current scenario is particularly intriguing. The token’s consolidation phase could signal a strong breakout, potentially propelling FLOKI towards an impressive 105.94% surge.

Over the last seven days, FLOKI experienced a significant increase of 28.64%, and its overall monthly growth is remarkable at 61.78%. Yet, this upward trend seems to have temporarily halted during the past day, causing FLOKI to drop by 4.27%.

Regardless of this temporary dip, FLOKI retains a favorable standing for further growth, driven by robust market demand and growing involvement.

FLOKI could surge 105.94%

According to FLOKI’s weekly analysis, the token has moved into a holding pattern, during which it may see increased price growth while fluctuating between specific limits for a more prolonged timeframe, eventually resuming its upward trajectory.

Should FLOKI transition beyond its current stage, there’s a possibility of a surge similar to its initial growth spurt, which might propel it upwards by approximately 105.94% and potentially reach a value of $0.00058053.

It’s worth noting that a surge in price might not occur straight away. It’s possible that FLOKI may initially touch a potential support point at $0.00020546 before potentially reaching another record peak.

FLOKI: Holder profits hit 88%

As reported by IntoTheBlock, the number of FLOKI holders has hit a new peak, suggesting increased adoption of this cryptocurrency.

By the 18th of November, roughly 80,200 locations were found to hold the asset, suggesting a steadily increasing level of engagement and curiosity.

Additionally, it’s worth noting that a vast majority (88%) of these holders found themselves in profitable positions, referred to as “In The Money”, at the time the press release was issued. In contrast, just 3% were considered “Out of the Money” (in a loss). Interestingly, another 9% were exactly breaking even, or “At The Money”. These statistics underscore FLOKI’s prevailing bullish trend.

Although there’s been a slight daily decrease, the large number of profitable wallets indicates a positive market outlook and hints at the potential for the token to rise again in the near future.

Development activity hits new high

Based on information from Santiment, the pace of FLOKI’s development increased significantly following a low point in September. This acceleration corresponds with the release of its Play-to-Earn MMORPG game, Valhalla, which launched in India.

Realistic or not, here’s FLOKI’s market cap in BTC’s terms

Increased development activity is often a precursor to significant price movements.

If the current pattern continues, it’s possible that FLOKI may soon burst out of its current phase of stability, potentially reaching a new peak in value, thereby reinforcing its positive trajectory.

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2024-11-20 06:31