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Ethereum Blockchain‘s dog-themed altcoin inspired major memecoin, Floki (FLOKI), has attracted significant investor interest, leading to a substantial rise. Altcoin‘s price surged nearly 15% in a single trading day, sparking optimism among global cryptocurrency market participants. This price increase coincided with a series of positive metrics that contributed to the bullish sentiment surrounding FLOKI, creating significant excitement among both investors and traders.
Analist Predicts 2-3 Fold Increase in FLOKI Value
Amidst the fervent activity surrounding Floki Inu’s price surge, cryptocurrency analyst Captain Faibik shed light on significant insights related to the altcoin’s current market dynamics. In a post on the leading social media platform X, he intensified expectations for a continuous upward momentum in the altcoin’s price, leading to an increase in bullish sentiment.
In his analysis, he highlighted a breakout from a bullish flag formation observed in Floki’s daily price chart. This formation typically represents a consolidation period within an uptrend, followed by a resumption of the upward trajectory. The analyst’s prediction of at least a 2-3 fold increase contributed to the prevailing optimism surrounding FLOKI.
Captain Faibik’s observation, combined with FLOKI’s significant 15% price increase, pushed the altcoin into a further bullish phase, reinforcing the positive market sentiment. Currently, the altcoin’s price has risen 15.74% in the last 24 hours to $0.000196. During the same time frame, the altcoin’s price recorded a low of $0.000168 and a high of $0.0002052.
Open Interest Also Increasing
Derivative data reveals a significant increase in FLOKI’s open interest (OI), indicating a substantial rise in derivative volume along with high levels of investor participation. This data underscores a strong market uptrend for Floki Inu, showing increasing interest from more investors.
The data also suggests that if buying pressure continues, the analyst’s predictions could materialize. With liquidation figures indicating reduced selling pressure, the outlook for Floki Inu remains positive, causing bullish expectations for the altcoin’s future price trajectory.
