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The significant role of meme coins in cryptocurrencies is well-known. Leading meme coins like DOGE and SHIB, along with other top 10 projects, have periodically come to the forefront. In 2024, one of the frequently mentioned projects was FLOKI. FLOKI made headlines multiple times throughout the year, achieving several ATHs due to the efforts of the team and investor support. Despite yesterday’s announced partnership and existing investor support, FLOKI’s price has dropped today. Two analysts have shared their outlook on the future of the meme coin.
FLOKI Analyst Comments
This year, FLOKI experienced a series of ATHs, reaching $0.0003462 on July 5, 2024. Although today’s price is 65% below that level, analysts maintain a positive outlook.
In this context, a well-known market figure, Jelle, pointed to the remainder of the year and the continuation of the cycle, expressing his bullish expectations:
It seems $FLOKI is forming a higher low at key support while the rest of the market struggles.
I believe the volatile summer period is nearing its end, and FLOKI looks solid for a new run in the second half of the cycle.
In addition to Jelle, Crypto Tony also highlighted the meme coin’s tight price range and his confidence in his current investments in a post on X:
$FLOKI / $USD – Update
A nice range to work within. I expect us to hold this low level to stay long and strong for now.
My long-term investments remain due to a great entry a few years ago.
How Much is FLOKI?
After reaching its ATH in July, FLOKI continues its decline today. As of the time of writing, the meme coin is trading at $0.0001159, following a 3.57% drop in the last 24 hours.
With a market cap of $1.1 billion, FLOKI remains the 5th largest meme coin. Despite the partnership announced yesterday with the world-renowned Esports team OG, the price did not move positively and fell in line with the market. Additionally, the trading volume of the meme coin increased by 7%, reaching $154 million.
