- Floki Inu’s price surged 4% intraday amid Coinbase listing.
- Rising open Interest and technical indicators signaling the rise.
Floki Inu (FLOKI), the dog-themed memecoin based on the Ethereum Network, recently gained significant momentum following the Coinbase listing buzz. This news was revealed in a tweet by the official account of Coinbase Assets.
The tweet mentioned the FLOKI transfer into Coinbase and Coinbase Exchange will only be available in the regions where trading is supported. On November 21, 2024, trading will start at 9 AM PT or later. It will happen if the liquidity requirements are satisfied.
Trading will start in stages. When there is a sufficient supply of the asset on Coinbase, it will begin with the FLOKI-USD pair. In some regions, including those where Coinbase operates, access to FLOKI may be restricted.
Floki Inu Price Poised For 80% Surge Analysts Say
A recent tweet by Crypto Titan highlighted that Floki Inu has enlisted a bullish flag pattern breakout. The bullish move was imminent, and the token could see an 80% rise in the short term.
Another analyst, Javon Marks, has taken a more aggressive call. He has suggested a 90% upside. He said that the FLOKI price has crossed the 61.8% fib level. Moreover, it is set to skyrocket in the coming sessions.
Floki Inu‘s price has rested above the key EMA lines. Furthermore, the daily and weekly timeframes noted a bullish price action.
Could Coinbase Listing Propel Floki’s Price to New Highs?
Floki Inu token has enlisted a symmetrical triangle pattern. It has seen a notable uptick of over 70% in the last ten days.
When writing, the FLOKI price was trading at $0.0002489. It noted an intraday rise of over 3.40%. Its market cap increased to $2.39 Billion, ranking 45th among the top crypto coins. The token has a total supply of 9.68 trillion, and the pair of FLOKI/BTC was 0.00000000256.
The price action represented the buyer’s accumulation. Moreover, the token could accelerate and surge to the ATH level soon.
Considering the latest surge of over 70%, Floki Inu’s price was attempting to sustain beyond the supply zone of $0.0002700. A weekly close above the zone would permit the bulls to strike toward the ATH zone of $0.0003400 soon.
The Relative Strength Index (RSI) line stayed at 67. It revealed that buying pressure has outpaced the selling pressure, signaling the bullish cues.
Moreover, the Average Directional Index (ADX) soared to 42, implying a strong uptrend on the chart. The Chaikin Money Flow (CMF) reading conveyed significant market inflow. That represented a positive outlook.
Over the last three days, active addresses have surged beyond 1000. It signaled the rising investor interest in the network.
Floki Inu’s latest price surge has turned Sharpe Ratio readings from negative to positive over the past two weeks. Data from Messari hinted at this.
Currently, the risk-to-reward ratio is not favoring the bullish stance, as the token has entered the overbought region. The Sharpe Ratio value was around 4.89 at press time, revealing a bullish reading.
The immediate support zones for Floki Inu were $0.0002400 and $0.0002320. At the same time, the resistance levels were $0.0002700 and $0.0002920.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
