Floki (FLOKI) Price Prediction: Will FLOKI Rise Another 81% After Surpassing Axie Infinity?

Over the previous week, the cryptocurrency Floki (FLOKI), which is associated with dogs, has experienced a significant increase, rising by 50%

The price of the dog-themed cryptocurrency Floki (FLOKI) has surged by 50% in the past week, rising from a low of $0.000139 to reach $0.00021 before facing some resistance. The recent spot listing of FLOKI, changes in marketing strategy, and the WazirX hack have all contributed to the bullish sentiment.

Here's a closer look at the market analysis and key developments:

Bullish Divergence Trend Analysis

Cryptocurrency analyst Javon Marks has identified a hidden bullish divergence in FLOKI, indicating a strong price increase. According to Marks' analysis, this divergence suggests a potential surge of almost 81%, which would bring the price to $0.00034888.

The divergence is characterized by higher highs in the chart and lower highs in the indicator, suggesting a potential continuation of the uptrend. Marks also noted that breaking through the crucial resistance level at $0.0002761498 could lead to further gains, potentially pushing the price to $0.00054673, a 54% increase from the first target, Coingape reports.

Moreover, the past surges of Dogecoin (DOGE) have triggered periods of heightened popularity for meme-based cryptocurrencies, which has benefited FLOKI and Shiba Inu (SHIB). The price of FLOKI has generally followed DOGE, but it has often outperformed the token during bullish market cycles.

Floki's Market Position and Trading Activity

Floki has now surpassed leading players like Axie Infinity, The Sandbox, Decentraland, and Gala to become the highest-valued play-to-earn (P2E) cryptocurrency by market capitalization. During a recent Binance Live AMA session, Floki showcased its Valhalla game. The event attracted an audience of 33,000 and was reportedly a success, boosting the token's market standing.

Furthermore, the trading volume and open interest have fueled FLOKI's bullish trend. The derivatives trading volume increased by 54.36% to reach $173.24 million, indicating a heightened level of interest and potential for market volatility. The open interest surged by 21.46% to reach $26.74 million as more traders entered the market, suggesting bullish market sentiment.

The recent hack of the Indian cryptocurrency exchange WazirX, which resulted in total losses of over $230 million, including $4.7 million worth of FLOKI tokens, initially raised concerns. However, the market sell-off was absorbed, demonstrating FLOKI's liquidity and resilience. The hacker has now sold off all the acquired FLOKI tokens and no longer has the ability to manipulate the token price.

Floki's team is collaborating with WazirX to minimize the impact of the event on FLOKI holders and ensure minimal disruption. The prompt assistance and ongoing support have helped stabilize the token's market position.

New Exchange Listings and Marketing Initiatives

FLOKI's market presence has been significantly bolstered by new exchange listings. With the addition of FLOKI as a spot listing on Kraken, users can now purchase the token with EUR and USD, increasing its accessibility.

This integration is a positive development for FLOKI as Kraken is a well-established exchange in the United States with over 10 million users.

Floki's marketing strategies, such as sponsoring the Women's Asia Cup Cricket 2024, aim to promote their Play-to-Earn MMORPG game, Valhalla. This partnership is expected to reach a wide audience, further enhancing FLOKI's visibility and adoption in the market.

Floki Price Trend

Despite a clash between bullish and bearish forces, the price of FLOKI has managed to rebound in the past 24 hours. After finding support at the lowest point of the day, valued at $0.000184, the price experienced a significant increase. Currently, FLO

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