Shiba Inu Competitor FLOKI Poised For Dogecoin-Like Rally, How High Can It Go?

A crypto analyst has predicted that outstanding meme coin and Shiba Inu competitor, Floki (FLOKI) is poised to witness a Dogecoin-like rally to new ranges. This bullish projection comes on the heels of Floki’s latest itemizing on the main crypto alternate, Bitstamp.  

Analyst Anticipates Main DOGE-Like Upswing For Floki 

In an X (previously Twitter) publish on July 26, a crypto analyst recognized as ‘Scofield’ shared a extremely optimistic outlook on Floki, underscoring the cryptocurrency’s core strengths and its substantial potential for future progress. Scofield noticed that dog-themed meme cash like Dogecoin (DOGE) and Floki have been displaying sturdy efficiency through the present crypto market restoration. 

With a market capitalization surpassing $19.4 billion and $10.13 billion, Dogecoin and Shiba Inu respectively are thought to be the main cryptocurrencies amongst meme cash. In the meantime, Floki, with a market capitalization of over $1.72 billion, is positioned as a main contender to SHIB, and is predicted by the crypto analyst to carefully comply with Dogecoin’s bullish value actions. 

In his publish, Scofield hinted that Floki may very well be on the verge of a Dogecoin-like rally, observing that the meme coin has been lately appearing as a “Dogecoin Beta.” This description means that Floki has been behaving like a extra unstable model of Dogecoin. 

Scofield has maintained a powerful bullish stance on Floki’s future value outlook, emphasizing that the cryptocurrency has confirmed its sturdiness over time whereas possessing sturdy fundamentals. Whereas the analyst has not stipulated how excessive the favored meme coin is about to rally, he disclosed that a number of main upcoming occasions may function vital catalysts to additional increase Floki’s efficiency. 

Talking of bullish occasions, on July 25, Bitstamp introduced that it has prolonged help for Floki on its alternate. This information got here as a pleasing shock for members of the Floki group, as quite a few analysts see the brand new itemizing as a significant milestone and potential bullish catalyst for Floki. 

Scofield has described Floki’s integration into Bitstamp as extraordinarily bullish. The analyst emphasised that Floki has change into one of many few meme cash listed on Bitstamp, which is among the many oldest and largest crypto exchanges in Europe.

Analyst Identifies Floki As The Subsequent Massive Meme Coin

In one other X publish, Scofield declared that Floki is the following greatest meme coin on Ethereum, after Pepe (PEPE). The analyst disclosed that regardless of the latest market correction, Floki has remained one of many strongest performing meme cash. 

In accordance with CoinMarketCap’s knowledge, Floki is at the moment buying and selling at $0.0001822, marking a slight uptick of 0.40% within the final 24 hours. The cryptocurrency has been on a significant downward pattern over the previous week, dropping by roughly 6% over the previous seven days. 

Scofield asserts that the staff behind Floki continues to trace at vital bulletins, which may probably affect the efficiency and value of the meme coin favorably. 

Featured picture from Reddit, chart from TradingView