- Floki Inu, a Shiba Inu and Dogecoin competitor is on track for a 17% upswing to the $0.000041 level.
- The meme coin recently got listed on BigONE Exchange after its listing on Crypto.com.
- A decline below weekly low at $0.000034 could invalidate the bullish thesis for the meme coin.
Floki Inu, a Shiba Inu and Dogecoin competitor, has a bullish target of $0.000041. The meme coin is in a downtrend, however recent rounds of exchange listings and altcoin price rallies have fueled a bullish sentiment among holders.
Also read: Ethereum struggles to keep up with Bitcoin ahead of Shanghai upgrade
Floki Inu announces new exchange listing for the meme coin
Floki Inu, a meme coin competitor of Shiba Inu and Dogecoin, is currently in a downtrend. The meme coin recently got listed on Crypto.com. FLOKI announced the listing of the token on BigONE exchange.
The Netherlands-based exchange announced FLOKI’s listing in a recent tweet earlier today.
BigONE Lists @RealFlokiInu , $FLOKI/USDT Will Be Available for Trading
— BigONE (@BigONEexchange) March 27, 2023
⚠️Trading pair available on: 28/3/2023 at 17:00(GMT+8)
✔️Deposit services is AVAILABLE NOW
✔️Withdrawal services will be available on 29/3/2023 at 17:00(GMT+8)
More details: https://t.co/Yts5r0isrY pic.twitter.com/mdYT7bvEAn
Typically, announcements like exchange listings are considered bullish for the meme coin. FLOKI bulls set their eyes on the bullish target of $0.000041.
FLOKI price gears up for likely 17% upswing to $0.000041
There are two drivers of the FLOKI price rally. The first is the ongoing altcoin rally with cryptocurrencies yielding double-digit weekly gains as Bitcoin price rally slows down. The second one is the bullish sentiment among FLOKI holders with listing announcements from cryptocurrency exchanges.
As seen in the FLOKI/USDT price chart below, FLOKI is currently in a downtrend. However, bulls are on track to drive the meme coin to the bullish target of 38.2% Fibonacci Retracement at $0.000041.
The meme coin could find support at $0.000034 and $0.000025.
FLOKI/USDT 4H price chart
If FLOKI price nosedives below support at $0.000034 it could invalidate the bullish thesis for the meme coin.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin slightly recovers after sharp sell-off following Fed rate cut decision
Bitcoin (BTC) recovers slightly, trading around $102,000 on Thursday after dropping 5.5% the previous day. Whales, corporations, and institutional investors saw an opportunity to take advantage of the recent dips and added more BTC to their holdings.
Aave Price Forecast: Poised for double-digit correction as holders book profit
Aave (AAVE) price hovers around $343 on Thursday after correcting more than 6% this week. The recent downturn has led to $5.13 million in total liquidations, 84% of which were from long positions.
Memecoins DOGE and PEPE approaches key levels: Eyes for a recovery
Dogecoin and Pepe prices retest their crucial support level on Thursday after declining more than 10% this week. Sideline investors seeking to accumulate dog-themed and frog-themed memecoins may consider doing so at their support levels for a potential recovery rally ahead.
Crypto market bleeds following hawkish rate cut decision by Fed
Bitcoin and the crypto market are down on Wednesday following the Federal Open Market Committee (FOMC) announcement to slow down rate cuts in 2025, with the benchmark federal funds rate declining to a lower range of 4.25% to 4.50%.
Bitcoin: BTC reclaims $100K mark
Bitcoin briefly dipped below $94,000 earlier this week but recovered strongly, stabilizing around the $100,000 mark by Friday. Despite these mixed sentiments this week, institutional demand remained strong, adding $1.72 billion until Thursday.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.