Floki Inu could witness a 17% upswing with latest FLOKI exchange listing
- Floki Inu, a Shiba Inu and Dogecoin competitor is on track for a 17% upswing to the $0.000041 level.
- The meme coin recently got listed on BigONE Exchange after its listing on Crypto.com.
- A decline below weekly low at $0.000034 could invalidate the bullish thesis for the meme coin.
Floki Inu, a Shiba Inu and Dogecoin competitor, has a bullish target of $0.000041. The meme coin is in a downtrend, however recent rounds of exchange listings and altcoin price rallies have fueled a bullish sentiment among holders.
Also read: Ethereum struggles to keep up with Bitcoin ahead of Shanghai upgrade
Floki Inu announces new exchange listing for the meme coin
Floki Inu, a meme coin competitor of Shiba Inu and Dogecoin, is currently in a downtrend. The meme coin recently got listed on Crypto.com. FLOKI announced the listing of the token on BigONE exchange.
The Netherlands-based exchange announced FLOKI’s listing in a recent tweet earlier today.
BigONE Lists @RealFlokiInu , $FLOKI/USDT Will Be Available for Trading
— BigONE (@BigONEexchange) March 27, 2023
⚠️Trading pair available on: 28/3/2023 at 17:00(GMT+8)
✔️Deposit services is AVAILABLE NOW
✔️Withdrawal services will be available on 29/3/2023 at 17:00(GMT+8)
More details: https://t.co/Yts5r0isrY pic.twitter.com/mdYT7bvEAn
Typically, announcements like exchange listings are considered bullish for the meme coin. FLOKI bulls set their eyes on the bullish target of $0.000041.
FLOKI price gears up for likely 17% upswing to $0.000041
There are two drivers of the FLOKI price rally. The first is the ongoing altcoin rally with cryptocurrencies yielding double-digit weekly gains as Bitcoin price rally slows down. The second one is the bullish sentiment among FLOKI holders with listing announcements from cryptocurrency exchanges.
As seen in the FLOKI/USDT price chart below, FLOKI is currently in a downtrend. However, bulls are on track to drive the meme coin to the bullish target of 38.2% Fibonacci Retracement at $0.000041.
The meme coin could find support at $0.000034 and $0.000025.
FLOKI/USDT 4H price chart
If FLOKI price nosedives below support at $0.000034 it could invalidate the bullish thesis for the meme coin.
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.
