FLOKI Set for a Potential 100% Surge and Break All-Time Record, Analysis Indicates
In the previous week, Floki [FLOKI] experienced a 28.64% increase in value, with a remarkable monthly performance of 61.78%. Nevertheless, there has been a slight decline in the last 24 hours, resulting in a 4.27% dip in the token’s value.
Despite this minor setback, FLOKI is in a favorable position to extend its upward trajectory, supported by strong market interest and growing participation.
FLOKI Poised for a Potential Surge of 105.94%
The weekly chart of FLOKI indicates that the token has entered a consolidation phase. During this phase, the price might show an upward trend while moving within specific boundaries for a prolonged period before resuming its upward momentum.
Should FLOKI break out of this phase, it could initiate a rally similar to its initial upward movement, potentially soaring by 105.94% and hitting $0.00058053.
Nevertheless, the breakout may not occur immediately. There is a possibility that FLOKI might initially test a support level at $0.00020546 before aiming for a new all-time high.
FLOKI Holders Witness an 88% Profit Increase
According to IntoTheBlock, FLOKI has experienced a surge in adoption, leading to a record number of holders for the token.
As of November 18th, around 80,200 addresses held FLOKI, indicating robust and escalating interest in the asset.
Furthermore, 88% of these holders were currently in a profitable position, while only 3% were experiencing losses, and 9% were at a breakeven point. These statistics underscore FLOKI’s overall bullish momentum.
Despite a recent minor decline, the substantial percentage of profitable addresses reflects a positive market sentiment and hints that the token could resume its upward trajectory soon.
Development Activity Reaches a Record High
Data from Santiment reveals that FLOKI’s development activity has significantly increased following a previous low in September. This surge coincided with the introduction of its Play-to-Earn MMORPG game, Valhalla, in India.
Elevated development activity often foreshadows substantial price movements. If this pattern persists, FLOKI may be on the brink of breaking out of its consolidation phase and achieving a new all-time high, further reinforcing its bullish perspective.