Floki (FLOKI) may be the lucky meme coin to steal the spotlight in this bull cycle, with a crypto analyst predicting it could become the Dogecoin (DOGE) of this bull run. The realization of this prediction is sure to stir excitement within the Floki community, especially as the meme coin continues to gain traction despite experiencing price declines.
Floki To Become “The Dogecoin Of This Bull Run”
A crypto analyst identified as Scofield has suggested that the current market downtrend is presenting a chance for investors to buy and accumulate cryptocurrencies at a lower price. Lately, bearish sentiment has plagued the market, causing prominent cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to fall drastically.
Even popular meme coins like Dogecoin and Shiba Inu (SHIB) have experienced their own share of price declines, underscoring investors’ decreasing demand for these meme-based cryptocurrencies amidst broader market volatility. While many could see the market’s downtrend with pessimism, Scofield sees it as a prime opportunity for investors.
The analyst highlights Floki, a coin inspired by SpaceX CEO, Elon Musk’s dog, as a particularly promising cryptocurrency. Scofield noted that Floki has gained strong institutional backing, becoming a favorite among smart money investors.
Additionally, Scofield disclosed that Floki has performed better in terms of fundamentals compared to other popular meme coins like Pepe (PEPE), Dogwifhat (WIF) and SHIB. As a result, the analyst believes that Floki has the potential to become the Dogecoin of the upcoming bull, indicating a potential for the viking themed meme coin to achieve substantial gains this bull cycle.
Although this prediction could be attested by many Shiba Inu supporters, as SHIB has constantly been heralded as the “Dogecoin Killer.” However, unlike Shiba Inu, Floki has continued to gain a favorable outlook despite facing some recent price declines. The cryptocurrency experienced a significant price leap following news of its charitable initiative to build a school in India.
Additionally, CoinMarketCap’s data reveals that Floki’s price has increased by 2.39% in the last 24 hours, while its market capitalization has surged by 1.92%.
Analyst Predicts One More Low Set For Floki
A crypto analyst, known as Dona on X, has issued a cautionary outlook for Floki, predicting that the meme coin could experience one more low before a potential price recovery. Earlier on July 8, the analyst predicted that a drop below $0.0001 for Floki was inevitable.
Now, Dona has reinforced his prediction by presenting a price chart that underscores the meme coin’s continued bearish trend. He has forecasted that the price of Floki could plunge below $0.000085 in the near term. This pessimistic projection comes amid recent price declines experienced by Floki over the past few weeks.
CoinMarketCap has reported that the price of FLOKI crashed by a staggering 22.84% in the last seven days and is currently trading at $0.00012.
Featured image created with Dall.E, chart from Tradingview.com
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