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Cryptocurrency analyst Javon Marks has just highlighted FLOKI as a digital asset that could post impressive growth. In a post on X, Marks noted that if FLOKI confirms the so-called hidden bullish divergence, gains of over 96% can be expected.
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This technical pattern indicates a sudden spike once Floki FLOKI price is breaking the $0.000276 resistance level. If it breaks the level, Marks believes that FLOKI price could rise to $0.000546, with “more room to go.”
This is a generally bullish view, which is in line with a more comprehensive view provided by cryptocurrency price prediction platform CoinCodex, which expects its value to increase by 227% by September 22, 2024.
Recent performance and market dynamics
Despite the recent slump, FLOKI is doing a good job of attracting investors’ attention. The coin has surged 15% in just one week, which could be a significant rise. On the back of this surge are positive technical indicators, new strategic partnerships, and an expected airdrop announcement.
After the recent confirmation of a hidden bull deviation, all eyes are on Floki (Floki Inu), in response to this divergence, is still up more than 96% above the target of $0.0002761498, which may open up more room for the upside!
With the break above this target,… https://t.co/w3iDJDPeZU pic.twitter.com/SSr3iaLB5F
— Javon⚡️Marx (@JavonTM1) August 22, 2024
These are very positive factors, all of which are generating a great deal of interest around this coin, making it one of the most talked about coins of recent times.
FLOKI has also experienced turmoil. The crypto market crash in early August saw the coin’s value drop by 65% from $0.00034 on June 5 to $0.000096. However, its 15% return from that level has spurred expectations of a rebound.
Binance-powered Airdrop Boosts Trust
One major development is that Binance will support the upcoming airdrop of Simon’s Cat token, CAT. Starting August 29, 2024, Binance will airdrop eligible balances for this airdrop, with approximately 315 billion CAT tokens being given to every wallet holding at least 400,000 FLOKI tokens. This airdrop is seen as strategic in preserving rewards for the FLOKI community, which faced a devastating presale attempt by bots.
This upcoming announcement has been received fairly well. Not only does it instill confidence in FLOKI, it also helps in the process of building trust in the community. The call to avoid the pre-sale and instead go for a free airdrop at least to some extent indicates a commitment to fair play and transparency, which could improve FLOKI’s long-term prospects. Floki.
Floki: Price Predictions and Investment Outlook
Looking to the future, FLOKI price prediction looks very promising.According to CoinCodex, the price could rise by around 227% by September 22, 2024, which means it could reach $0.000489.
The current sentiment from technical indicators is neutral, with neither buyers nor sellers in the upper hand driven by this bullish outlook.
A reading of 34 on the Fear and Greed Index, which falls into the fear category, indicates that market sentiment remains under control, perhaps due to the prevailing volatility.
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Over the past month, FLOKI’s price has averaged 30%, which doesn’t bode well for buyer interest. We’ve already seen a lot of price volatility, given the token’s 17% volatility rate.
For investors, this is a highly potential buying opportunity; however, it is not without risk. It is very important to monitor market conditions and general sentiment before making investment decisions.
Featured image from Medium, chart from TradingView
