The recent downtrend for Floki Inu lasted into the weekend. Raised eyebrows when the position of this meme coin within the bull cycle was questioned.
Bullish Floki price projections seem to be showing cracks, as the meme currency seems to be struggling to gain any significant momentum today. Down 0.14%.
The issue seems even more troubling when you consider the noticeable discrepancy in the rallies seen from other prominent meme coins. Floki, which has seen a 58.02% gain over the last month, has been outpaced in this space by others.
Floki’s popularity has waned in this cycle. Today, the trading volume has increased by 25% and reached 407,000,000. This suggests that some holders have decided to leave.
Floki Predictions: Can Floki catch up?
Floki has had a disappointing month so far. However, technical indicators suggest that Floki could be on the verge of a rally.
The recent upward trend could be part of a broader breakout. It is based on a symmetrical triangle pattern, which was created against the support-trendline that has governed Floki’s lowest lows in 2018.
While the breakout has appeared to come to a halt, a fully realized pattern sets its sights on a $0.0036650 price target, which is in line with the trendline of resistance that marked Floki’s highs throughout the same period.
Floki, with its almost 70% price increase over current prices, would be able to match the growth of its major competitors this month.
This potential rally appears more credible as a result of a bullish golden cross that occurred last week. In addition, the 50SMA has surpassed the 200SMA.
The next move may be sooner than you think, as the Relative Strength Index has settled down at 56 following its stint at oversold levels of 80 only two weeks ago.
The MACD line continues to be below the signal line, indicating that bulls do not have control yet over Floki’s price. The downward trend could continue until next week.
Is Floki The Play This Cycle Really?
Even with all this, the question is: Is Floki truly the play of the cycle? After all, by then, its competitors are likely to have seen their rallies and raised the bar.
There is no surprise, then, that investors are searching for meme coins with greater potential and faster gains.
Crypto all-stars ($STARS) attracted particular attention as it was the first platform to be used for staking.
The MemeVault combines the entire community of meme coins under the Crypto All-Stars umbrella. Users stake to earn rewards, which are paid in the project’s native $STARS token.
Allows meme coin holders who are most committed to their coins to remain loyal to them while also maximizing the gains that staking can offer. One of the reasons for the project’s success is that it has already raised over $ 7 million in its presale.
Investors who missed out on $STARS have already regretted their actions, particularly as it is one of ‘s best passive revenue opportunities currently with an impressive 293% annual percentage yield.
While the recent volatility in the market has been a drag, early All-Star investors are reaping consistent profits!
Although it’s not yet too late, this opportunity will soon be gone. As the presale approaches its conclusion in just over 20 days, there is a short window of time to act.
