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Early morning gains in cryptocurrencies have caught investors‘ attention, bringing some relief to the market. Amidst these developments, a well-known analyst suggested that meme coin number 6 might show parallels with BNB and made an optimistic statement about the future.
Floki Coin Analysis
One of the closely followed figures in the market noted that one of Dogecoin’s (DOGE) potential rivals is progressing in a pattern similar to BNB’s parabolic structure in the early part of this year. The analyst named Inmortal stated on X that FLOKI might replicate BNB’s movement in early 2024. He also highlighted a potential rise of over 160% for FLOKI.
Similar structures. BNB and FLOKI.
When examining the chart shared by the analyst (above), it is seen that FLOKI might rise to $0.0003. At the time of writing, FLOKI was trading at $0.0001239.
Additionally, Inmortal mentioned that FLOKI’s recent sponsorship deal with the English football team Nottingham Forest Football Club could be another trigger for a rise in meme coins.
The analyst believes that during the expected bull season in cryptocurrencies, FLOKI could lead the rise in meme coins.
If you ask me, this is a significant development, and when markets turn green again, FLOKI will be the leader among meme coins.
Bitcoin Chart and Analysis
Inmortal stated that Bitcoin (BTC) is in a consolidation phase that will clearly trigger a reversal. According to the analyst, the volatile price movement that has lasted for 164 days will “disappear in a few days.”
Large consolidations precede large expansions.
At the time of writing, BTC had fallen slightly from the $60,000 level it had reached in the morning. BTC price continues to find buyers around $60,890 after a 2.44% increase in the last 24 hours. BTC’s market cap exceeded $1.2 trillion, while its trading volume surpassed $29.2 billion.
