Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Floki Price Prediction as FLOKI Drops 25% From Recent Highs – Can FLOKI Reach $1?

Floki (FLOKI) bulls are growing nervous as a price pullback accelerates. The token has now dropped over 25% from last week’s highs in the $0.000267 area to around $0.00020.

This week’s drop has seen the Floki price break convincingly below its 21DMA for the first time in months.

That could open the door to a near-term drop back to resistance-turned-support around $0.00016.

The 50DMA would also come into play here. This area could, therefore, be a zone where many investors are keen to buy the dip.

Floki Price Prediction as FLOKI Drops 25% From Recent Highs – Can FLOKI Reach $1? / Source: TradingView

Indeed, many crypto investors will likely seek a piece of the Floki action after its stunning 7x rally since early February.

At the current Floki price of $0.0001995, its market cap is just under $2 billion.

That’s over 12x less than Dogecoin’s monstrous $25 billion market cap. That suggests Floki still has plenty of upside potential.

But can it ever reach $1?

Floki Price Prediction – Can It Ever Reach $1?

Floki has a total supply of just over 9.7 trillion. So, at a price of $1 per token, it would have a market cap of $9.7 trillion.

That’s nearly 7.5x Bitcoin’s current market cap of around $1.3 trillion. While nothing is impossible in crypto, that suggests that the Floki price ever reaching $1 is likely a little farfetched.

But can Floki reach a valuation in the $10s of billions? That is very possible, with Dogecoin and Shiba Inu already showing the path.

Assuming Bitcoin goes on to replace gold as the global reserve asset, reaching a market cap in the tens of trillions of dollars, then Floki could even go on to clinch a $100 billion market cap.

It is, after all, likely to stay a leader in the meme coin space, thanks to its massive, dedicated community.

Floki Alternative to Consider – Presale Investing

Shiba Inu offers potential investors a great chance to make solid gains.

However, those looking for a better probability of near-term gains should consider an alternative high-risk, high-reward investment strategy—getting involved in crypto presales.

Presales offer investors a routine to get involved in a project at its very early stages, and thus potentially make returns of as much as 100x.

If investors can identify projects with solid foundation, the risk/reward of their investment is very good.

Analysts at Cryptonews spend a lot of time examining new presale projects.

Here are 14 of the best presales of 2024, according to the team at Cryptonews:

See the 14 Cryptocurrencies

The post Floki Price Prediction as FLOKI Drops 25% From Recent Highs – Can FLOKI Reach $1? appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024