FLOKI and the dog-themed cryptocurrencies have been the talk of the town recently. BONK and dogwifhat (WIF) reached new all-time highs (ATH) this month, while the Viking dog-based token climbed to levels not seen since the previous bull run.
During this rally, memecoins have soared alongside the rest of the cryptocurrencies. However, in the past 24 hours, the market went from flying to crashing as the prices of most cryptocurrencies followed the recent Bitcoin dip.
Is FLOKI Ready To Continue Its Expansion?
Last week, FLOKI, the fifth largest memecoin by market cap, soared by over 60% after announcing its listing in two major crypto exchanges in Asia and the Middle East. The news propelled the token’s price to $0.0002043.
Crypto Analyst Byzantine General shared on X (formerly Twitter) his view on the token’s recent performance. According to the post, FLOKI was one of the few tokens that “held up nicely.” Based on that, Byzantine General observed that the price was consolidating before another expansion.
One of the coins that held up nicely today is $FLOKI. Looks like it’s just consolidating before another expansion. And lately it’s basically been a higher beta $DOGE. pic.twitter.com/9MsrfInjvA
— Byzantine General (@ByzGeneral) March 14, 2024
FLOKI has shown a rising trajectory this month, increasing 337% since March 1st. The chart in the post highlights the past four days, displaying that the Solana-based memecoin has consolidated between the $0.00026-$0.0003 price range.
A broader look at the token’s price exhibits that it hovered between $0.000028-$0.000039 in the first two months of 2024 before breaking above the $0.000040 resistance level at the end of February. In the past 30 days, FLOKI has registered a stellar $649.4% growth.
Similarly, the renowned trader and market analyst MacroCRG shared on X that “$FLOKI holding up like a mf chad” amid the market dip. According to the trader, the token will continue as one of the leaders “as long as the memecoin supercycle bid remains.”
Market shits itself?
It’s oke, $FLOKI holding up like a mf chad
New revamped roadmap coming soon + many product launches lined up for the rest of the year…
As long as the memecoin supercycle bid remains… IMO @RealFlokiInu gonna continue being one of the leaders pic.twitter.com/2gsIE04Dkv
— CRG (@MacroCRG) March 15, 2024
The analyst highlighted the project’s newly revamped roadmap as part of its “strengths.”…
Click Here to Read the Full Original Article at NewsBTC…
