bullish

2024

FLOKI

Shiba Inu

<p class="is-style-lead">Floki forms numerous bullish patterns, which observers say could point to more upside— potentially to an all-time high this year.&nbsp;</p> 
<p>Floki (<a href="https://crypto.news/price/floki/" target="_blank">FLOKI</a>), the sixth-biggest meme coin, was trading at $0.000256, pushing its market cap to over $2.4 billion.</p> 
<p>The coin could have more upside, helped by the ongoing token burn. Data by <a href="https://www.crypteye.io/burntracker/coins/floki" target="_blank" rel="nofollow">CryptoEye</a> showed that Floki has burned over 103 billion tokens in the last 12 months.&nbsp;</p> 
<p>It burned 4.9 billion tokens in the last three months, leaving the total coins in circulation at over 9.6 trillion. According to <a href="https://dune.com/maxdanify/floki-burn" target="_blank" rel="nofollow">Dune Analytics</a>, the number of these circulating tokens has continued to fall in the past few months.</p> 
<p>These token burns will continue in the longer term, following a vote earlier this year that authorized the elimination of 15.2 billion tokens. Token burns help to boost a crypto asset’s value by making the existing ones more valuable.</p> 
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<p>The Floki price is also doing well, helped by the ongoing inflows into the Floki Locker. <a href="https://defillama.com/protocol/flokifi-locker" target="_blank" rel="nofollow">Data shows</a> that the total value locked in the network rising to a record high of over $57 million. This is a strong number since it started the year at around $10 million.&nbsp;</p> 
<p> You might also like: <a rel="" href="https://crypto.news/5-altcoins-with-potential-long-term-success-build-a-1m-crypto-portfolio-by-2026/"> 5 altcoins for potential long-term success: Build a $1M crypto portfolio by 2026 </a> </p> 
<p>Analysts are upbeat about Floki. In an X post, <a rel="nofollow" href="https://x.com/CryptoNewton/status/1865377889903948097" target="_blank">Shelby</a> noted that the meme coin could become the next Dogecoin (DOGE). </p> 
<p>He noted that the coin had survived the harshest bear market, and built real utility. He believes that the coin’s fundamentals were unmatched.</p> 
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   <p lang="en" dir="ltr">If you're looking for the next <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DOGE</a>, <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$FLOKI</a> is your answer… I have 0 doubts about this.<br><br>While other <a href="https://twitter.com/hashtag/memecoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#memecoins</a> come and go, <a href="https://twitter.com/hashtag/Floki?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Floki</a> has survived the harshest bear market, built real utility, and is the only dog token named after Elon's own Shiba Inu. The fundamentals are… <a rel="nofollow" href="https://t.co/vJaMEHTEpS" target="_blank">https://t.co/vJaMEHTEpS</a></p>— Shelby (@CryptoNewton) <a href="https://twitter.com/CryptoNewton/status/1865377889903948097?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 7, 2024</a>
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<h2 class="wp-block-heading" id="floki-price-analysis">FLOKI price analysis</h2> 
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  FLOKI chart | Source: <a rel="" href="https://crypto.news/price/floki/">crypto.news</a>
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<p>Floki has remained in a consolidation phase in the past few days. On the daily chart, the coin has formed a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle pattern.</p> 
<p>It often leads to more upside in the long term.&nbsp;</p> 
<p>Floki, named after Tesla CEO Elon Musk’s Shiba Inu dog, has formed a golden cross pattern as the 50-day and 200-day moving averages flipped each other.</p> 
<p>Therefore, more upside will be confirmed if the Floki price rises above the key resistance at $0.00029, its highest level in November. </p> 
<p>Should that happen, and the crypto bull run continues, there are signs that the coin will jump by 40% and retest its all-time high at $0.000350.</p> 
<p>Floki was created by a group of crypto influencers using aliases, including B, PetaByte Capital, Sabre, and MrBrown Whale. </p> 
<p>It has since expanded its vision, focusing on developing an NFT gaming metaverse, called Valhalla, and aims to bring real-world utility and decentralized applications to its ecosystem.</p> 
<p> Read more: <a rel="" href="https://crypto.news/jasmy-qnt-mew-top-cryptocurrencies-to-watch-this-week/"> JASMY, QNT, MEW: Top cryptocurrencies to watch this week </a> </p>

Will Floki price rise 40% to ATH as token burn accelerates?

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