Floki Gains 105% In a Week, Hits Five-Month High. What's Next?

Last revised: Oct 27th 23 8:17:34 am

Floki (FLOKI) has surged 24% in the past 24 hours. Bullish momentum with 9D EMA at $0.00002927 and RSI at 84. Floki, the popular memecoin, is the talk of the crypto token with its impressive performance and recent updates. It has recently reached a five-month high, trading at $0.00004074, marking a 24% increase over the past 24 hours. In a week’s time, it has witnessed an extraordinary surge of 105%. Meanwhile, the trading volume of FLOKI has also seen a notable increase of 93% within the same time frame, now totaling $324 million. This bullish momentum is attributed to a strategic partnership and a key update related to tokenization. In a blog post on October 24, it announced its partnership with World Table Tennis, a highly influential organization in the table tennis world. The goal of this partnership coincides with the October 27 launch of Floki’s new sister token, TOKEN. Floki Inu has introduced TokenFi, its tokenization platform, and its native asset TOKEN. TokenFi will enable Floki Inu to compete in the rapidly growing tokenization industry. It is projected to reach a valuation of $16 trillion by 2030. It has plans to unveil the TokenFi website on October 27. Furthermore, these developments have propelled Floki into the top 100 cryptocurrencies by market capitalization. Notably, it is now the fourth most searched token on Binance, surpassing other popular tokens like PEPE, SOL, XRP, and DOGE. The surge in interest results from the anticipation of Floki’s impending launch of its crypto and asset tokenization token. A Strong Bull Run Ahead? Analyzing the current price movements of FLOKI, it’s evident that bullish forces are at play. The 9-day exponential moving average (EMA) has risen above the current trading price, settling at $0.00002927. At the same time, the daily relative strength index (RSI) stands at 84. The asset is indicating an extremely overbought condition. FLOKI Price Chart, Source: TradingView Moreover, if FLOKI manages to break through the $0.00004511 resistance level, a rally toward $0.00005510 appears highly likely. However, if the price drops below the critical support level of $0.00002465, a downward move towards $0.00001961 is a probable scenario. Further decline could lead to testing the $0.00001643 support level.