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The FLOKI price surged more than 18% over the past 24 hours to trade at $0.00005483 as of 9:30 a.m. EST as investors scoop up as much of the altcoin as they can.
The FLOKI Price Forms A Bullish Channel
4-hour chart for FLOKI/USDT (Source: TradingView)
The FLOKI price printed a series of higher highs and higher lows on its 4-hour chart over the past 48 hours, resulting in the formation of a positive price channel. This bullish momentum has enabled the altcoin to break above both the $0.00004605 and $0.00005180 resistance levels throughout the past couple of days. Should bulls continue to boost the crypto’s value, it may soon overcome the $0.00006245 barrier as well.
This bullish thesis could be invalidated if the FLOKI price breaks below the lower boundary of the current price channel, which is also confluent with the $0.00005180 mark. In this alternative scenario, the meme coin may drop to the $0.00004605 support level in the short term. Continued sell pressure could then lead to the crypto dropping to as low as $0.00003625 within the following week.
The FLOKI Price Has A Lot Of Technical Support
Technical indicators on FLOKI’s 4-hour chart suggest the crypto may keep rising in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flagging bullish.
The MACD line is breaking away above the MACD Signal line. However, the gradient of the MACD Histogram seems to be leveling off. This may be an early indication of FLOKI’s positive trend coming to an end and potentially undergoing a bearish reversal in the coming days. An early warning sign of this looming correction could be when the gradient of the MACD Histogram turns negative on FLOKI’s 4-hour chart.
Over the last few hours, the RSI also crossed bullishly above its Simple Moving Average (SMA) line. Traders generally see this technical occurrence as a signal that buyers have gained the upper hand against sellers. As a result, it could be easier for bulls to push the FLOKI price higher in the next 24 hours than it will be for bears to pull it down during the same period.
While the FLOKI price looks set to continue its bullish streak in the next few days, investor FOMO is in overdrive for Meme Kombat as its official launch is less than a week away.
Battle Of The Memes
Meme Kombat is an innovative gaming platform that experts predict could take the meme coin space by storm.
The ecosystem will feature regularly-scheduled battles that tokens holders will be able to place wagers on, with winning bets being rewarded in payouts in Meme Kombat’s native token, MK. There will also be more hyped battles, which will come with much more lucrative rewards for players.
On top of these rewards, the token’s ICO also offers investors at this early stage an attractive staking program with an APY (annual percentage yield) of 94%. Investors who want to take part in Meme Coin’s staking can do so by purchasing MK on the project’s official website.
The meme coin is currently selling for $0.279 and can be purchased using either USDT, ETH or BNB.
A Potential 100X Opportunity
MK is perfectly positioned to surge off the back of the flourishing meme coin sector and the booming blockchain gaming market. This potential price explosion could happen soon, as MK’s launch is just over six days away.
The meme coin will also be listed on several centralized exchanges, which will expose the crypto to a large untapped pool of investors that may lead to further gains for the altcoin.
7 DAYS TO GO!
We're just one week away from unleashing Meme Kombat onto the world. Get ready for an epic showdown that's set to redefine meme battles! pic.twitter.com/05wOC70V0e
— Meme Kombat (@Meme_Kombat) February 27, 2024
Investors are very bullish on MK, which is evident by the success of the crypto’s ICO. There are currently more than 13,100 stakers, with 77% of the meme coin’s supply locked in the project’s staking program.
This underscores investors’ confidence in the project’s potential to print substantial gains in the coming months.
MK can be purchased here.
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