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- The Floki Inu price surged 20% in the last 48 hours following Coinbase’s listing news.
- The meme coin has nearly doubled in value over the past week.
Floki Inu’s (FLOKI) has seen a massive price rally of over 20% in the last 48 hours. This bullish move comes after Coinbase announced it would include FLOKI crypto in its listing roadmap.
The announcement fueled excitement among investors. It triggered a symmetrical triangle breakout, and the Floki Inu price witnessed a massive weekly breakout rally of over 45%.
It has been experiencing a steady increase in its price over the past week. Moreover, It was heading toward the 52-week high region. Amidst the broader uptrend in the market, the FLOKI crypto saw a notable uptick and gained bullish momentum.
When writing, the Floki Inu price was trading at $0.0002580. It has noted an intraday surge of over 7.20%. Its market cap rose to $2.48 Billion, and the token ranked 46th among the top crypto coins.
Investor Hopes Rise Following Coinbase Announcement
Coinbase’s official announcement of their listing, which included Floki crypto, resulted in an instant increase in the token price.
This announcement attracted attention throughout social networks and increased buying interest and optimism. Several analysts and traders estimate that FLOKI crypto may rise to 500% in several weeks.
The new development caused the trading volume increase, which now averages $1.37 Billion. Growing involvement from institutional and ordinary investors is the reason for this sharp spike in activity.
The current circulation and highest market capitalization of FLOKI stood at $2.50 billion. This shows that FLOKI is being accepted by investors in the meme crypto markets.
New listings offer tokens higher levels of exposure and convenience, while Coinbase confirmation is a step forward for FLOKI. This could further improve the amount and activity of the coin in global markets.
CryptoGems, in his recent tweet, said that the Floki Inu price has bounced off from the demand zone. He further mentioned that it is ready for a violent move in the coming sessions.
Per the Fib levels, the FLOKI crypto price reverted from the 50% zone. Moreover, it was ready to retest the 78.6% zone shortly.
Floki Inu Price Prediction: Analysing the Key Levels
The Floki Inu price traded above the 61.8% zone and stayed above the key moving averages. Recently, a breakout was witnessed, and a short covering move loomed. The Relative Strength Index (RSI) line remained in the overbought zone, replicating a positive crossover on the chart.
Furthermore, the Average Directional Index (ADX) was around 35, indicating that a bullish trend was emerging. Additionally, the Chaikin Money Flow (CMF) reading conveyed positive cues. It represented a significant liquidity surge in the market.
The OI-weighted funding rate remained positive at around 0.117%, replicating demand for long contracts. Also, the long/short ratio was 0.9264. That conveyed long contracts dominance, unveiling the bullish stance.
The immediate support zones for Floki Inu were $0.0002470 and $0.0002300. At the same time, the resistance levels were $0.0002660 and $0.0002780.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
