Is the FLOKI Price Primed For Another Surge? Analysts Point to Favorable Double Bottom

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Joel Frank

Author

Joel Frank

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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Last updated:

August 29, 2024 19:34 EDT

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The Floki (FLOKI) price has dived over 11% on Thursday from near $0.00016 to under $0.00014.

But that doesn’t mean catastrophe for FLOKI. Indeed, chart analysis suggests that the FLOKI price might be pried for another surge.

That’s because the FLOKI price recently broke to the north of a downtrend in play since July.

Moreover, earlier in August, FLOKI appears to have formed a favorable double bottom, a sign of a potential bullish reversal.

Granted, on Thursday FLOKI lost its grip on its 50DMA. That will be a key level for the Ethereum-based meme coin to overcome if it wants to return to its July highs.

But with a Fed rate cutting cycle coming up next month, the FLOKI price could soon be in for a near 3x price surge.

FLOKI likely thus ranks as one of the best cryptos to buy right now, and certainly amongst the best meme coins.

Indeed, FLOKI’s still modest market cap of around $1.3 billion leaves plenty of room for expansion this bull cycle.

Remember that, in the past, meme coins like Dogecoin and Shiba Inu reached market caps north of $40 billion.

That’s not to say that the FLOKI price will 30-40x from here. But, thanks to its rapidly growing GameFi and DeFi ecosystem, it looks set to remain a market leader. See FLOKI’s road-map below. 10x gains are certainly plausible.

FLOKI Price Could Explode – But Is This Alternative Better?

The FLOKI price looks set to potentially explode. But, given it is an already a well established coin, traders looking for 100x plus gains should look elsewhere.

Indeed, the best, and almost only, way to book these sorts of gains is to get into a new meme coin before it trends.

And one of the best ways to do this is to get involved in high potential presales.

One new meme coin presale analysts at Cryptonews.com like a lot is called Crypto All-Stars (STARS).

The innovative new coin allows users to earn a staking yield on their favorite meme coins.

Investors have already poured $850,000 into the presale, with the price set to rise imminently.

Cryptonews.com’s in-house analyst Chester explains in the below video why he thinks STARS has 100x potential.

Buy STARS Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.