FLOKI Price Poised For 2-3x Bullish Rally in The Coming Days

The post FLOKI Price Poised For 2-3x Bullish Rally in The Coming Days appeared first on Coinpedia Fintech News

As Bitcoin (BTC) price attempts to rally towards $70k following the recent halving event, top meme coins led by Floki (FLOKI), frog-themed Pepe (PEPE), and Solana-based Bonk (BONK) have already broken out of their respective bullish flag. Floki prive rallied over 15 percent in the past 24 hours to trade around $0.0002 on Wednesday during the early London session.

The mid-cap meme coin, with a fully diluted valuation of about $2 billion and a daily average traded volume of around $457 million, has rallied nearly 40 percent in the last seven days, thus signaling the end of its correction.

Why Bet on Floki in this Bull Cycle? 

Since Floki was partially endorsed by tech billionaire Elon Musk, the meme coin has significantly thrived into a vibrant web3 ecosystem. For instance, the Floki Locker, which allows projects to lock liquidity pool tokens to specified timelines, has grown to over $142 million in Total Value Locked (TVL).

Notably, the FlokiFi Locker is a multi-chain protocol supporting 15 EVM-compatible blockchains. The supported chains include ETH, BSC, Base, Blast, Arbitrum, Polygon, Fantom, AVAX, Optimism, KCC, OKXChain, opBNB, Cronos, Evmos, and Dogechain.

The FlokiFi project has helped increase the overall utility of the FLOKI tokens amid heightened competition from other meme coin projects. On Tuesday, Alltoscan, a project developing an open-source block explorer compatible with all rollups, announced that it has locked $18 million worth of ATS tokens for 15 months with the Floki Locker.

Floki Price Targets

The Floki price has risen to the upper border of the bullish flag, and the bulls are well incentivized to retest the all-time high soon. According to a popular crypto analyst, Captain Faibik, Floki’s price could easily rally up to 3X in the coming days. 

However, Floki’s price must consistently close above the 50 daily Moving Average (MA) to ensure a bullish outlook ahead. Additionally, the weekly Relative Strength Index (RSI) must consistently close above 70 to confirm the bullish trend.