Amidst rising interest in meme coins, FLOKI, a competitor to Shiba Inu, is gaining attention as a crypto analyst foresees a significant upswing in its value. Despite a recent 50% increase in May, FLOKI is now retracing, prompting speculation on its future potential.
Anticipating a FLOKI Surge
Crypto expert Blunts recently highlighted FLOKI’s promising trajectory and likened it to the successful performance of PEPE, an Ethereum-based meme coin. Observing FLOKI’s price trend resembling that of PEPE, Blunts anticipates a comparable upward trend for FLOKI.
Blunts further emphasized FLOKI’s positive momentum, noting the coin’s pattern of higher lows and higher highs, indicating a bullish outlook. With a reference to a 1-2 pattern on the daily chart, Blunts suggests that FLOKI is poised for further growth despite encountering resistance levels.
The analyst predicts a substantial increase of over 100% in FLOKI’s price, projecting a peak at $0.00075. Even with current prices hovering around this level, this forecast implies an almost 200% surge for the meme coin.
While facing downward pressure associated with Bitcoin’s decline below $68,000, FLOKI descended from its May peak of $0.0003 to $0.000246. Nonetheless, Blunts’ optimistic forecast raises hopes for FLOKI’s revival in the near future.
Blunts’ accurate past predictions, including calling the Bitcoin price bottom in 2018, resonate with market participants, adding credibility to his latest projection for FLOKI.
Performance of Various Meme Coins
In a broader market trend of price depreciation, Shiba Inu and other meme coins have experienced declines. Shiba Inu, despite a 16% surge on Wednesday, now faces a 5.2% drop, erasing half of its recent gains.
Similarly, Dogecoin, Shiba Inu’s prominent counterpart, records a 3.7% loss in the last day and 4.1% decline over the week. PEPE’s value has also decreased by 11.1% daily and 5% weekly.
Moreover, prominent losses have been witnessed in BONK, with an 18.8% drop in daily prices and an additional 5.6% decrease over the week. Other meme coins such as Dogwifhat and Book of Meme (BOME) have similarly faced setbacks.
