The dog-inspired cryptocurrency named Floki Inu (FLOKI) has been showing its teeth in the financial market this month, earning it plenty of attention from market analysts and traders as a rising star in the cryptoworld. The recent slowdown in the crypto market proved no match for the soaring value of FLOKI, as the altcoin not only managed to maintain its sturdy course but also displayed convincing signs of an imminent breakout.
Two weeks ago, amidst the sluggish movement in the overall crypto market, FLOKI stuck out as an exception. The audacious howler had been on a steady ascent since late February, taking a solid stand and experiencing virtually no significant falls while the rest of the market faced tumultuous downward currents.
During a time when most of the other tokens hunkered down for a period of consolidation ahead of another ascension, the Viking dog-themed digital asset surged to new heights. By mid-month, it had already accomplished an inspiring 337% growth since March 1st, after a period of relative stagnation when it fluctuated between $0.000028-$0.000039 during the first two months of 2024.
The ascent showed no signs of slowing as March neared its close. FLOKI exhibited a jaw-dropping increase of 428.3% over the past 30 days, attracting the keen attention of several crypto-analysts who asserted new platform-busting performances for the altcoin.
One such analyst, MacroCRG, a seasoned crypto trader and market pundit, underscored FLOKI’s noteworthy performance throughout the month and stressed its “strength on LTF’s too.” In his analysis, the analyst referred to the price support zone just above the $0.00022 range as an essential factor, predicting fresh highs for the token, as long as the recent low holds.
Another analyst, Crypto Kaleo, also alluded to FLOKI’s LTF, suggesting the token might be at the verge of a launching phase. In his advice to followers, he advised, “not to sleep on FLOKI ”, before claiming that the token’s current performance indicated it had little left to trail behind ATH resistance. He posited that it was only a matter of time before FLOKI carved out new peaks “like the DOGE chart.”
Adding to the bullish chorus, The CryptoBull sung high praises of the token for entering what he termed a “beautiful re-accumulation phase.” The analyst also pointed out the momentum-driven trajectory of the token, noting a renewed interest in the canine-inspired cryptocurrency.
The value of FLOKI soared by 7.7% within a mere hour by the time of writing, momentarily crossing the $0.000260 threshold before edging back to $0.000255. The token saw a 9.8% surge in the past 24 hours with an asking price of $0.0002554. Despite the formidable long-term performance and the latest spree, the token is still down by 10.6% compared to its performance over the past two weeks.
The market cap of FLOKI has climbed to $2.39 billion, marking an 8.4% leap in the past 24 hours. At this mark, FLOKI establishes itself as the fifth-largest memecoin and the 56th largest cryptocurrency based on CoinMarketCap data. A steep increase of 56.6% in the daily trading volume from the previous day also hinted at an intensified market activity, as traders shuffled a staggering $690.6 million.
At present, the dog of the hour, FLOKI, is trading at $0.000263 based on a 3-day trading chart. The bark of this crypto-dog seems considerably louder than its bite, as it continues to take the crypto market by storm.
