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The FLOKI price has risen 32%, surpassing other meme coins such as Dogecoin.
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If breakout confirms, analysts predict FLOKI will hit $0.00027.
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On-chain activities spike: more transactions, wallets active, and holders in profits.
After a recent price surge, the meme coin Floki (FLOKI), is once again making news. FLOKI has surged more than 32% in the last 24 hours, outperforming popular meme coins such as Dogecoin or Shiba Inu. Floki Inu, at the time of writing is trading at $0.0000792. Analysts predict that the coin will soon reach $0.0001 if the bullish surge continues.
Crypto analyst Shiba knight believes FLOKI is on the cusp of a major breakthrough. According to them the meme coin “is at an interesting spot” which could soon see a powerful upward move.
Notably, Floki is the only meme coin from the previous cycle — Dogecoin Shiba Inu and Floki — that has actually reached a new All-Time High (ATH) in the current market cycle.
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FLOKI’s strength has been impressive across multiple cycles, despite the competition from newer tokens such as PEPE, FARTCOIN, and BONK. Knight said that “Floki’s move next could be a face-melting one.”
Floki’s chart shows a bullish breakout pattern. The token has tried to break its all time high (ATH), multiple times, and still has the potential for an upward move.
Another analyst stated that FLOKI trading volume has broken through, and the price is close to doing so. If the breakout occurs, FLOKI may see a strong rally – possibly gaining nearly 270% to reach around $0.00027.
On-Chain data shows rising FLOKI activity
On-chain data appears to support the bullish view. The Block’s data shows a 10% increase in large transaction volumes and an 18% rise in active wallet addresses.
These metrics indicate an increase in investor interest and activity. Data shows that over 52% FLOKI holders currently are in profit. This is unusual for a meme currency and could indicate a stronger holding conviction.
What’s driving the price rally?
The Floki team has announced a strategic alliance with Rize Robots. Rize AI is backed by major companies like NVIDIA SoftBank and Alibaba Enterprise Fund.
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Together, they are working on an AI robot called Floki miniBot M1, which aims to integrate decentralized AI protocols in real-world applications.
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