Floki, the fifth-largest meme coin by market capitalization, has experienced a downward trend since February of this year. However, recent developments have brought increased excitement to the meme coin market.
Investors have been drawn to Floki thanks to its notable liquidity, making it easy to buy and sell. According to the latest data from the decentralized finance (DeFi) aggregator, Dex Screener, Floki boasts total liquidity of approximately $3.2 million on Pancakeswap and $3.8 million on Uniswap.
Floki Price Action Analysis
Prominent digital asset analyst Crypto Tony, with a substantial following of over 339k on the X platform, believes that Floki is poised for a price rebound in the months ahead. He points to a critical support level on Floki’s weekly chart, hinting at a potential breakout.
As a result, Crypto Tony encourages meme coin enthusiasts to consider accumulating more Floki assets for promising returns in the near future.
Also Read: Floki Inu Coin Price Prediction: Will FLOKI Price Reach $0.00005 By The End Of 2023?
Another Dogecoin in the Making?
Notably, Crypto Tony suggests that Floki’s price action may mirror that of Dogecoin (DOGE), which has displayed early signs of a bullish breakout. Previously, the analyst had predicted that Dogecoin’s price could dip to around $0.04 before making a comeback towards its all-time high (ATH).
Also Read: Top Reasons Why Dogecoin Will Surpass All-Time High in the Next Bull Rally
With the meme coin market heating up and influential figures like Elon Musk and Crypto Tony showing interest, Floki could be a coin to watch for sure.
