Analysts Bullish On FLOKI As Price Surges 9.8%, New ATH Soon?

Floki Inu (FLOKI) performed stellarly this month, with crypto analysts and traders forecasting bullish moves for the token. As the crypto market recovers from its slowdown, with Bitcoin (BTC) leading the way, the dog-themed token appears to be preparing to take off.

Analysts Share Bullish Forecasts For FLOKI’s Future

Two weeks ago, analysts considered that FLOKI was showing a strong performance amid the crypto market slowdown. The token, which has been on an upward trajectory since the end of February, “held up nicely” at the time.

While most of the market registered considerable dips, FLOKI was one of the tokens “consolidating before another expansion.” Halfway through the month, the Viking dog-themed Cryptocurrency had shown a 337% growth since March 1st, after hovering between $0.000028-$0.000039 for the first two months of 2024.

Now that March is near its end, FLOKI exhibits a staggering 428.3% increase in the last 30 days. This performance didn’t go unnoticed by crypto analysts, who forecast new heights for the token.

MacroCRG, a crypto trader and market analyst, shared his thoughts on the token’s price. The analyst considers that beyond FLOKI’s impressive performance throughout the month, it was “showing strength on LTF’s too.”

$DOGE leading the charge, just hit a fresh 121 week high

This is wildly bullish for other blue chip memes$FLOKI showing strength on LTF’s too

As long as this recent low holds, fresh highs soon IMO pic.twitter.com/cmPn89x7a7

— CRG (@MacroCRG) March 28, 2024

In the post’s chart, the trader highlighted the performance since Monday, pointing out the token’s support zone above the $0.00022 price range. According to MacroCRG, “as long as this recent low holds, fresh highs soon.”

Similarly to MacroCRG, analyst Crypto Kaleo drew attention to the dog-themed token’s LFT, claiming it looks like it’s “starting to send.”

Something like this for $FLOKI pic.twitter.com/dEUa9pBUvi

— K A L E O (@CryptoKaleo) March 28, 2024

In his posts, Kaleo suggested to his followers “not to sleep on FLOKI here.” According to the analyst, the token won’t be “lagging behind ATH resistance too much longer.”  He concluded that sooner rather than later, FLOKI could make new heights “like the DOGE chart.”

Lastly, crypto analyst The CryptoBull shared his bullish prediction about the token, suggesting it is going through a “beautiful re-accumulation phase.” Additionally, the analyst stated he noticed a shift in interest for the dog-themed memecoin, as “crypto is very momentum driven.”

FLOKI Price Action

As of this writing, FLOKI has surged 7.7 % in the past hour, with the price briefly surpassing the $0.000260 mark before retracing to the $0.000255 level.

In the last 24 hours, the token has increased 9.8%, trading at $0.0002554. Despite the remarkable long-term performance and the recent surge, the token is still registering a 10.6% correction from its performance in the biweekly timeframe.

Its market capitalization rose to $2.39 billion, an 8.4% surge in the past day. By this metric, FLOKI is the fifth largest memecoin and the 56^th largest Cryptocurrency, according to CoinMarketCap data.

Moreover, the daily trading volume suggests that the token has recently experienced a surge in market activity. It has increased 56.6% from the day before, with $690.6 million traded.

Floki is trading at $0.000263 in the 3-day chart. Source: FLOKIUSDT on Tradingview.com 

Featured Image from Unsplash.com, Chart from TradingView.com

Disclaimer: The article is provided 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.