{"id":625124,"date":"2024-06-18T06:30:15","date_gmt":"2024-06-18T06:30:15","guid":{"rendered":"https:\/\/wncen.com\/?p=625124"},"modified":"2024-08-17T11:10:24","modified_gmt":"2024-08-17T11:10:24","slug":"floki-analyst-predicts-80-crash","status":"publish","type":"post","link":"https:\/\/wncen.com\/all\/floki-analyst-predicts-80-crash\/","title":{"rendered":"End Of The Road For FLOKI? Analyst Predicts 80% Crash For The Shiba Inu Competitor"},"content":{"rendered":"

Shiba Inu competitor FLOKI <\/a>has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024<\/a>, prompting an influx of new investments into the meme coin. However, as investors throw money at FLOKI, one analyst expects this increase to be short-lived, predicting a massive price crash for the altcoin.<\/p>\n

FLOKI Poised For A Rally And Then A Dump<\/h2>\n

Crypto analyst iMoneyTeam has predicted<\/a> a dump for the FLOKI price that could erase all of the meme coin\u2019s gains from the last few months. The analysis, which was posted on the TradingView platform, tracks the movement of FLOKI over the last few months in a bid to predict where the price is headed next<\/a>. As the crypto analyst explains, the price has reached a \u201cbearish iCH\u201d in the internal structure, which has created \u201can internal pullback,\u201d depicted on the chart below.<\/p>\n

\"FLOKI
Source: Tradingview.com<\/figcaption><\/figure>\n
Related Reading: Shiba Inu\u2019s Shibarium Sees Triple-Digit Surge Across Major Metrics, What\u2019s Going On?<\/a><\/div>\n

This is evident in the price pullback that has rocked the meme coin in the month of June so far. However, where a recovery is usually expected for an asset in this situation and a continuation of the rally, the crypto analyst believes that it is a setup for further pullback.<\/p>\n

For now though, the analyst identifies that there is still a lot of bullish pressure on the meme coin<\/a>. This comes even as its price has broken a trend line, which would usually be bearish. But in this case, the bullish pressure could help the price hold its position. From here, there could be a recovery in price toward new all-time highs. However, after this is when the real problem begins for the cryptocurrency.<\/p>\n

Multiple Targets For The Meme Coin<\/h2>\n

Going by iMoneyTeam\u2019s prediction, before the FLOKI price<\/a> will crash, there will be an increase in price. The chart shows a recovery to as high a $0.00044, which is an almost 60% increase in the meme coin\u2019s price at the time of this writing. However, following this, the crypto analyst expects the Shiba Inu competitor to hit a supply zone, which will begin its decline.<\/p>\n

Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump?<\/a><\/div>\n

Once the price starts to fall, the analyst expects the price to fall to as low as $0.00006. Now, from the current price of $0.00018, it would mean an 80% decline in price. However, if the price does hit a new all-time high<\/a> price of $0.00044, as the analyst predicts before falling, then a crash to $0.00006 would mean an 86% decline.<\/p>\n

In terms of when this could happen, the crypto analyst does not give a timeline of events. However, the chart shows that the price would hit a demand zone around $0.00006, which would suggest that would be the bottom for the crash.<\/p>\n

\"FLOKI
Price struggles from crash | Source: FLOKIUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Asia Crypto Today, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin. However, as investors throw money at FLOKI, one analyst expects this increase to be short-lived, predicting a massive price crash for the altcoin. FLOKI Poised For A Rally And Then A Dump Crypto analyst iMoneyTeam has predicted a dump for the FLOKI price that could erase all of the meme coin\u2019s gains from the last few months. The analysis, which was posted on the TradingView platform, tracks the movement of FLOKI over the last few months in a bid to predict where the price is headed next. As the crypto analyst explains, the price has reached a \u201cbearish iCH\u201d in the internal structure, which has created \u201can internal pullback,\u201d depicted on the chart below. Related Reading: Shiba Inu\u2019s Shibarium Sees Triple-Digit Surge Across Major Metrics, What\u2019s Going On? This is evident in the price pullback that has rocked the meme coin in the month of June so far. However, where a recovery is usually expected for an asset in this situation and a continuation of the rally, the crypto analyst believes that it is a setup for further pullback. For now though, the analyst identifies that there is still a lot of bullish pressure on the meme coin. This comes even as its price has broken a trend line, which would usually be bearish. But in this case, the bullish pressure could help the price hold its position. From here, there could be a recovery in price toward new all-time highs. However, after this is when the real problem begins for the cryptocurrency. Multiple Targets For The Meme Coin Going by iMoneyTeam\u2019s prediction, before the FLOKI price will crash, there will be an increase in price. The chart shows a recovery to as high a $0.00044, which is an almost 60% increase in the meme coin\u2019s price at the time of this writing. However, following this, the crypto analyst expects the Shiba Inu competitor to hit a supply zone, which will begin its decline. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Once the price starts to fall, the analyst expects the price to fall to as low as $0.00006. Now, from the current price of $0.00018, it would mean an 80% decline in price. However, if the price does hit a new all-time high price of $0.00044, as the analyst predicts before falling, then a crash to $0.00006 would mean an 86% decline. In terms of when this could happen, the crypto analyst does not give a timeline of events. However, the chart shows that the price would hit a demand zone around $0.00006, which would suggest that would be the bottom for the crash. Featured image from Asia Crypto Today, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":625125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[167,6664,26263,14690,85497,92604,92603,87130,91751,87131,84471,83767],"class_list":["post-625124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-floki","tag-floki-crash","tag-floki-news","tag-floki-price","tag-flokiusd","tag-flokiusdt","tag-meme-coin","tag-meme-coins"],"acf":[],"yoast_head":"\nEnd Of The Road For FLOKI? 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His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"End Of The Road For FLOKI? 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