The FLOKI price has jumped by as much as 8% today, rising to $0.0001418 as the cryptocurrency market as a whole increase by 5% in the past 24 hours.
FLOKI is now down by 26% in a week and by 21% in a month, although the popular Ethereum- and BNB-based meme token has gained by an impressive 310% in a year.
This sets it up nicely for a strong comeback in the near future, with the wider market preparing for the possibility of a post-Bitcoin halving rally.
And with FLOKI outperforming more established meme coins such as DOGE and SHIB today, the remainder of the year could see it rise further up the market rankings.
Floki Price Prediction as FLOKI Bounces 8% as Meme Coins Make a Comeback – Time to Buy?
FLOKI’s rally today comes at a time when the coin was ready for a rebound, given that it had spent much of the past week struggling.
Its relative strength index (purple) has jumped to 60 in the past few hours, after tumbling close to 30 in the early morning.
Source: TradingView
Its 30-day average (orange) has begun climbing modestly, and seeing as how it had been well below the 200-day (blue) for so long, it should continue its ascent for at least a few days yet.
This means a rising price for FLOKI, which is seeing its resistance (red) and support (green) levels converge on each other, a move which can signal a big break (potentially in either direction).
One interesting feature of the coin’s chart is that its volume is still somewhat down, despite today’s lift, standing at $150 million.
This contrasts with the high levels – between $1 billion and $2 billion – it enjoyed in the first half of March, suggesting that real demand hasn’t returned to the coin yet.
The price of $FLOKI increased by ~75% today!
We noticed that whales started unstaking $FLOKI and selling for profits!
6 wallets have unstaked 30B $FLOKI($7.14M) in the past 6 hours and are selling $FLOKI.
Address:https://t.co/llvmSsLbt7https://t.co/us2zSxajOH… pic.twitter.com/yno9dtvxya
— Lookonchain (@lookonchain) March 8, 2024
A big part of this is that whales haven’t really returned to FLOKI since dumping their bags (as detailed above) in early March, implying that FLOKI’s price may rise even more strongly once they do.
The coin will also benefit if the market becomes more bullish in the coming weeks, with the Bitcoin halving (happening tomorrow) potentially strengthening the narrative surrounding BTC’s scarcity.
Of course, we could see more selling as miners feel the pinch of having their income cut by 50%, yet the longer term trend should be upwards.
As such, the FLOKI price may reach $0.00020 in the next few weeks, before hitting $0.00030 by the summer.
Newer Meme Tokens For Market-Beating Gains
While FLOKI looks like it could enjoy a few more rallies in the near future, it isn’t the only promising meme token in the market at the moment.
There are also various new coins that have launched recently, with some holding their presales – and gaining lots of momentum and support – as they get ready to list.
For example, Slothana (SLOTH) is a Solana-based coin that has raised over $10 million in its presale, which will end in just under ten days.
Send SOL to EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA
— Slothana (@SlothanaCoin) March 25, 2024
This impressive provides a strong signal that the market is betting big on Slothana, which is launching at a time when investor appetite for Solana-based meme coins remains very strong.
Indeed, its official X account now boasts over 21,000 followers, showing how the coin is already building a significant community.
Community is paramount if a meme coin is going to have legs and enjoy sustained growth, and with Slothana at this number before it has even launched, it’s a good sign.
While its sale is about to end, latecomers can still join at the Slothana website, where they can purchase SLOTH at a rate of 1 SOL for 10,000 SLOTH.
This works out at around $0.019393 per coin, yet the coin looks ready to rally much higher than this once it drops and lists in less than two weeks.
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