FLOKI Crypto Surges 300% A Week: What’s Fueling The Meme Coins?
Release: 2024/03/04 22:44 Reading: 456
- 1 The FLOKI crypto noted a remarkable surge in the price after posting a 300% gain a week.
- 2 FLOKI crypto was trading close to $0.000150, reporting a significant intraday development of 2.70%.
FLOKI crypto noted a remarkable surge in its price in recent sessions, dragging back the attention of short term traders and investors to the meme coin sector. The crypto grew by nearly 330% a week and edged closer to its all time high value of $0.0034.
The previous week has turned out to be very fruitful for the meme coins and their investors as the entire meme crypto market made an impressive rally. FLOKI crypto stood at the top of the meme coins rally and made a remarkable surge of nearly 330% in the past one week.
Other meme coins like Shiba Inu, Dogecoin, PEPE also witnessed significant rise in the price. Shiba Inu crypto reported a surge of nearly 170% in the past week. Dogecoin reported a gain of over 90% in the same period. Also, the Pepe crypto noted a price surge of nearly 275% in a week.
Almost all the meme coins have been benefited in the midst of the meme season rally. The trades and investors are anticipating further gains as the price rise is backed by the momentum.
What’s Driving the Meme Crypto Growth?
The recent meme season rally, FLOKI, SHIB, PEPE and other meme coins gained significantly. Several news and other forthcoming events have helped the price erase losses on bigger timeframes and surge higher.
The Shiba Inu crypto experienced an increment in the burn rate reaching up to 840% which led the base for the rally.
Meanwhile, the FLOKI community took a very bold and impressive step as the FLOKI DAO voted to burn almost 190.91 Billion FLOKI tokens. It constitutes nearly 2% of the total supply. These tokens will be burnt in a week.
Besides all, the market leaders are thrusting higher as the halving event is nearing. The overall crypto market has been bullish which also led to a positive impact on the crypto price.
FLOKI Price Technical Analysis
From a technical perspective, the FLOKI price trades significantly higher above the key 20, 50 and 200-Days EMAs, suggesting a bullish outlook in the short term.
At the time of writing, the RSI line was placed at 92.28 points and that of the 14-Day SMA line was placed at 75.50 points. The RSI line and SMA line were hovering in the overbought region, suggesting that consolidation is pending.
FLOKI Crypto Prediction March 2024
The price prediction of FLOKI crypto for March month shows that the FLOKI crypto may continue to rise higher until the buyers keep on adding. On the higher side, $0.00010 and $0.00015 may be next possible targets if the price continues to rise with momentum.
FLOKI Price Prediction 2024
The price forecast for the year 2024 highlights that the FLOKI token price could reach a high of $0.00019, suggesting a potential gain of over 154%. Moreover, the bearish outlook of the analysts hopes the price could reach $0.000147 by the year-end.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
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