Coinbry

  • Market Cap: $2,523,713,066,443.05
  • 24h Vol: $72,019,000,046.99
  • BTC Dominance: 50.99%
Is FLOKI's 140% price surge signaling a revival for memecoins like DOGE and PEPE?

Is FLOKI’s 140% price surge signaling a revival for memecoins like DOGE and PEPE?

Summary:

– FLOKI’s price has surged 140% following the launch of its tokenization platform, TokenFi, and the hype surrounding Grayscale Investments’ Bitcoin ETF filing.

– The current overbought RSI suggests a possible correction period for FLOKI’s price.

– If the rally stalls, the price could drop towards the 0.5 Fibonacci retracement line, potentially resulting in a 20% decrease.

– Memecoins like DOGE and SHIB have underperformed compared to top-ranking cryptocurrencies in 2023, while FLOKI has seen significant returns.

– The future rally of memecoins depends on the impact of the Bitcoin ETF update on BTC’s price, and memecoins can experience drastic falls when risk sentiment exhausts.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.