Author
Steve Muchoki
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
Key Notes
- Floki price must regain the support level above $0.00011 to invalidate further selloff ahead.
- The Floki network has grown into a robust ecosystem and intends to attract institutional investors via ETPs.
The altcoin industry, including Floki FLOKI $0.000069 24h volatility: 5.0% Market cap: $664.31 M Vol. 24h: $95.52 M , has continued to bleed to Bitcoin BTC $86 771 24h volatility: 0.8% Market cap: $1.72 T Vol. 24h: $24.28 B in the recent past. Bitcoin dominance has continued to grind higher, currently hovering at nearly 62%, thus diminishing hopes for an altseason in the near term. The altcoin industry has suffered immense reputation damage following several attacks on major centralized exchanges, led by Bybit.
Additionally, reports of pump and dump across the wider altcoin industry, led by memecoins, have pushed more prospective investors away. With the ongoing tariff wars triggered by US President Donald Trump, the altcoin market will likely continue in bearish sentiment until a solid bottom is established.
“Lots of garbage still needs to implode and die before we can continue down the right path as an industry. That is not hate. It is the brutal truth none of us can ignore,” Litecoin noted.
Midterm Expectations for Floki Price
After experiencing a major resistance range between $0.00027 and $0.00033 since March 2024, Floki’s price has been trapped in a correction mode. The mid-cap memecoin, with a fully diluted valuation of about $898 million and a 24-hour average trading volume of about $119 million, recently breached a support level of around $0.00011.
As a result, crypto analyst Ali Martinez thinks the memcoin is on the cusp of further decline towards the support level of around $0.00005. The short-term bearish sentiment will, however, be invalidated if the memecoin consistently closes above $0.00011 in the coming weeks.
In the weekly time frame, Floki’s price has been forming a macro-rising trend, characterized by higher highs and higher lows. As a result, Floki’s price is likely to rebound towards a new all-time high in the coming months.
Fundamentals Aspects
The Floki network has grown to a robust ecosystem of more than 500k on-chain holders across different blockchains led by BSC Chain. Originally inspired by Elon Musk’s Shiba Inu dog, Floki has grown into a vibrant web3 ecosystem consisting of Valhalla NFT Metaverse game, FlokiFi DeFi platform, and Floki University, among others.
As of this writing, the FlokiFi Locker platform had a total value locked of about $31 million, thus improving the legitimacy of the dog-themed memecoin. Last week, Floki was among the tokens listed on the Binance US platform against the USD pair.
The FLOKI / USD Pair is Available Again on BinanceUS
We have just secured another major milestone: $FLOKI is now tradable directly against USD on BinanceUS!
This makes Floki one of only 31 assets with a USD trading pair on BinanceUS, standing alongside the likes of $BNB, $ADA,… https://t.co/0AGnPcuoDS
— FLOKI (@RealFlokiInu) February 23, 2025
The Floki community has grown gradually backed by the strategic partnerships in the past year enabling incentives through airdrops. Furthermore, Floki has a 40% stake in GraFun memecoin Launchpad on the BSC blockchain.
Forward, the Floki project aims to attract institutional investors through a Floki Exchange-Traded Product (ETP) in Europe via a listing on the SIX Swiss Exchange.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Editor-in-Chief
Julia Sakovich
