Floki Inu: Will it Fly to the Moon or Crash?
Technical Analysis:
Long-term chart: FLOKI is currently in a long-term downtrend.
Resistance: Key resistance levels lie at $0.00035 and $0.00045.
Support: Key support levels lie at $0.00015 and $0.0001.
Fundamental Analysis:
Strengths:
Active and passionate community
Endorsement by Elon Musk
Multiple development plans
Weaknesses:
Lack of real-world utility
High competition in the meme coin market
Dependency on Bitcoin
Prediction:
Best-case scenario:
Bitcoin correction without a major crash
Gradual correction of Bitcoin dominance
Increase in trading volume and new capital inflow
In this case, FLOKI can move towards the resistance levels of $0.00035 and $0.00045.
Worst-case scenario:
Severe Bitcoin correction
Increase in Bitcoin dominance
Decrease in trading volume and capital outflow
In this case, FLOKI can fall to the support levels of $0.00015 and $0.0001.
Disclaimer:
This analysis is for informational purposes only and should not be considered investment advice.
Do your own research and understand the risks involved before investing in any cryptocurrency.
Long-term chart: FLOKI is currently in a long-term downtrend.
Resistance: Key resistance levels lie at $0.00035 and $0.00045.
Support: Key support levels lie at $0.00015 and $0.0001.
Fundamental Analysis:
Strengths:
Active and passionate community
Endorsement by Elon Musk
Multiple development plans
Weaknesses:
Lack of real-world utility
High competition in the meme coin market
Dependency on Bitcoin
Prediction:
Best-case scenario:
Bitcoin correction without a major crash
Gradual correction of Bitcoin dominance
Increase in trading volume and new capital inflow
In this case, FLOKI can move towards the resistance levels of $0.00035 and $0.00045.
Worst-case scenario:
Severe Bitcoin correction
Increase in Bitcoin dominance
Decrease in trading volume and capital outflow
In this case, FLOKI can fall to the support levels of $0.00015 and $0.0001.
Disclaimer:
This analysis is for informational purposes only and should not be considered investment advice.
Do your own research and understand the risks involved before investing in any cryptocurrency.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.