The FLOKI price has jumped by 44% in the past 24 hours, with its surge to $0.0001943 also marking a 212% gain in a week.
The meme coin has been one of the top-100’s best performers in recent weeks, with it also sitting on an impressive 480% increase in a fortnight and a 590% rise in a month.
These gains come as Floki benefits from growing attention from whales and more word of mouth among traders, with the token outperforming its biggest rivals.
And given its momentum, it could continue rising up the rankings in terms of market cap, potentially reaching the likes of Shiba Inu and Dogecoin.
FLOKI Price Prediction as FLOKI Rockets Up 212% – Can it Overtake Shiba Inu?
FLOKI has been going from strength to strength in recent weeks, with the coin shooting up at the start of March, declining a little, and then shooting up again in the past couple of days.
Its indicators reflect this momentum, with its relative strength index (purple) rising back above 80 today after dipping sharply towards 70 earlier in the week.
Source: TradingView
Normally, a reading over 80 would indicate that a coin is firmly in an overbought position and should decline soon, yet it’s clear that FLOKI – like many other coins – is currently in a price discovery phase in the context of a new bull market.
The market had neglected FLOKI for months, implying that it still has plenty of time to continue rising before it risks a steep and prolonged correction.
Also, whales have been betting that FLOKI will make even bigger gains in the near future, with recent data showing some big transfers off of exchanges.
A fresh wallet withdrew 28.19B $FLOKI($4.29M) from #Binance 40 mins ago.https://t.co/aJRdOG7A8T pic.twitter.com/M5I3gzVaCh
— Lookonchain (@lookonchain) March 5, 2024
In terms of fundamentals, there isn’t any particularly compelling reason why the FLOKI price should be rising, although it has been adding new exchange listings in recent weeks.
It’s also trending heavily on various social networks, with the coin the most popular asset on Stocktwits at the moment.
This all points to continued price growth for FLOKI, which is also likely to continue rising as the wider market continues to rise bullishly.
It seems that rising Bitcoin ETF volumes are pushing prices higher in general, boosted further by hopes of Ethereum ETFs and by the imminent arrival of the next Bitcoin halving.
As such, the FLOKI price should reach $0.00020 very soon, before rising to $0.0003o at some point in the spring.
Newer Meme Tokens Bring the Heat
FLOKI certainly looks good right now, yet it isn’t the only promising meme token in the market, with several recently launched coins looking ready to rally big.
For instance, Smog (SMOG) has surged by 32% in the past 24 hours alone, with the new Ethereum- and Solana-based coin having gained by over 15,000% since listing on Birdeye early last month.
Source: Birdeye/TradingView
That SMOG has far surpassed its initial opening rally is a very bullish sign, underlining how the coin has plenty of staying power and long-term potential.
Its successes are largely down to its bullish airdrop system, which awards a higher number of coins to holders with the biggest pre-existing SMOG holdings.
This setup motivates long-term holding, encouraging investors to hold onto their coins for as long as the airdrops continue.
And even after the drops cease, investors will still be able to stake SMOG, earning a yield of 42% APY.
#Dragons, can $SMOG reach $1 after an outstanding 60% surge overnight?
1. Yes!
2. No, but close!
3. Probably by tomorrow!
Vote now and share your prediction! #Solana #ATH #Memecoin #SMOGSOAR
— SMOG (@SMOGToken) March 7, 2024
One other interesting feature of SMOG is that it runs several ‘quests’ for investors to complete, involving tasks that boost the coin’s community and encourage participation.
As a result, Smog already has a healthy online community, with its Twitter account now having 36,000 followers.
Investors can buy the token on the official Smog website, or by going to the Jupiter or Birdeye DEX aggregators.
It’s also in the process of listing on other exchanges, something which is likely to help it rally even further in the coming weeks.
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