Floki, the joke coin that used to be very popular, has been going up and down since June. It dropped from a high point of $0.00034 to a low point of $0.00011, a huge 65% loss.
But an 18% rise in the last 24 hours has given experts new hope. They are now speculating on a possible price surge, with some predicting a remarkable 165% growth over the next year.
FLOKI up over 18% in the last 24 hours. Source:
Floki Breakout Looms?
“Floki’s price action has received strong support from a descending trend line,” said ZAYK Charts, a popular crypto analyst. The technical pattern is bearish and shows steady selling interest, which has generally kept prices low, but ZAYK has begun to feel the breakout is near.
When a breakout happens, we anticipate Massive Bullish wave📈
— ZAYK Charts (@ZAYKCharts)
In the event that Floki can shatter the resistance zone that has been keeping pressure on its value, it is likely to start a massive bull cycle, which could easily drive the asset’s price by over 46% from its current value, the analyst said.
Volatility Indicator Suggests A Likely Change
The recent price activity of Floki didn’t go unnoticed by traders. A peak through the Bollinger Bands uncovers a popular volatility indicator on the verge of an interesting period of low volatility, with the bands contracting.
Under these circumstances, either upside or downside price movements have sprung. From the current position at the middle band, Floki is likely to consolidate and wait for a cleaner signal of development from market participants.
FLOKIUSDT trading at $0.000132 on the 24-hour chart:
To add to the pressure, its RSI hit the 46.32 figure, meaning it’s sitting in neutral territory—just with a very slight lean towards the oversold camp. Any RSI reading under 50 is a sign of weak market momentum but, considering it still isn’t under 30, Floki might just spend weeks consolidating unless something changes the market dynamics.
What Lies Ahead For Floki?
The market analysts watch whether or not Floki can hold up this surge. From a price that trades far below the value projected for the next month, of which it’s 230% off the estimate, this highly poses an undervalue situation, and for some market analysts, it may be a cause of an
The short-term still looks quite lucrative for Floki: a 245% gain is expected to be accrued in the coming three months, which should open the way for a more robust recovery. This could be easily drawn by many traders, with the intention of making profits at low prices.
Looking beyond short-term calculations, the price of Floki will continue to move upward. In one year, the investment would be worth 180% more, an absolutely stunning move. Looking one year out, the goal is a target of 167% to the upside.
Featured image from Scam Robot, chart from TradingView
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Read more
Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Close
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
