Crypto.com app lists Shiba Inu rival Floki Inu, here’s what to expect from FLOKI price
- Crypto.com users can buy Floki Inu with USD, GBP, EUR and 20 other fiat currencies on the exchange’s mobile application.
- The new development boosts the Shiba Inu and Dogecoin rival’s reach by 80 million users worldwide.
- FLOKI price is in an uptrend and the meme coin is tackling resistance at $0.000039 with a bullish target of $0.000046.
Crypto.com, a leading cryptocurrency exchange with nearly 80 million users worldwide, announced the listing of the Shiba Inu rival token, Floki Inu (FLOKI) on its mobile app on Tuesday. FLOKI price climbed nearly 5% since the announcement, hitting a seven-day high of $0.000040.
Also read: Will Asian investors gobsmacked by $17 billion Credit Suisse bond wipeout turn to altcoins?
Crypto.com lists FLOKI on its mobile app
Crypto.com, a Singapore based cryptocurrency exchange announced Dogecoin and Shiba Inu’s rival meme coin FLOKI’s listing on its mobile application. The exchange has a user base of nearly 80 million traders worldwide.
Crypto.com’s users can now buy FLOKI using 20+ fiat currencies including the US Dollar (USD), the British Pound (GBP) and the Euro (EUR).
Floki is listed in the https://t.co/vCNztATSCO App
— Crypto.com (@cryptocom) March 21, 2023
Buy $FLOKI at true cost with USD, EUR, GBP, and 20+ fiat currencies.
Download the App to start trading #FLOKI now!
https://t.co/jt6bDD9fig
For more details - https://t.co/1aIpZrMH1Z@RealFlokiInu pic.twitter.com/Pf4g4h6k5V
FLOKI price rallied nearly 5% in response to the bullish announcement and hit a weekly high of $0.000040.
Will FLOKI price hit its bullish target of $0.000046?
As seen in the FLOKI/USDT price chart below, the meme coin is currently in an uptrend that started in February 2023. FLOKI price climbed to a peak of $0.000068 in mid-February, since then the meme coin witnessed a pullback, alongside other altcoins in the crypto market.
Floki Inu/Tether 1D price chart
Currently, FLOKI price is above its three Exponential Moving Averages (EMAs), the 50, 100 and 200-day represented in the chart above. FLOKI is on track to wipe out its recent losses and resume its climb towards the bullish target of $0.000046, represented by the 38.2% Fibonacci Retracement level on the chart.
The climb to $0.000046 represents an upswing of nearly 18%. Announcements and developmental updates fuel the bullish sentiment among FLOKI holders, alongside the recent capital rotation from Bitcoin to altcoins seen in the past two weeks.
There are three significant bearish Fair Value Gaps in the FLOKI/USDT price chart, represented by red boxes and in the event of a correction, the meme coin could collect liquidity at these levels, $0.000023, $0.000018 and $0.000010.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
