A carefully adopted crypto analyst believes that one red-hot Dogecoin (DOGE) rival is gearing up for extra large positive aspects.
Pseudonymous dealer Kaleo tells his 641,600 followers on the social media platform X that Floki (FLOKI)’s market cap might soar to no less than $10 billion, greater than 3x the present worth.
The analyst says Floki might head a lot after forming a cup-and-handle sample, a bullish technical indicator.
“Don’t want a flowery chart right here. Simply have a look at FLOKI zoomed out.
Retesting its 2021 all-time excessive.
Clear excessive time-frame cup and deal with.
BNB is on the verge of value discovery.
Memecoin tremendous cycle.
This sends to $10 billion plus on the following leg up simply.”
The analyst compares Floki’s present value sample to a different red-hot memecoin, Pepe (PEPE), earlier than its sudden rise.
He additionally believes that Floki is benefiting from being primarily based on Binance’s BNB Chain whereas BNB, the native token of the BNB Chain, is in an uptrend.
“Low timeframe FLOKI does look lots like PEPE did earlier than its final transfer increased. It has the same narrative as effectively: PEPE being a excessive ETH beta meme play, FLOKI being a excessive BNB beta meme play.”
Floki, with a present market cap of $3.1 billion, is buying and selling for $0.0003182 at time of writing, up greater than 1,000% since buying and selling for $0.0000269 4 months in the past on February fifth.
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Generated Picture: DALLE3
