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The Floki Inu price soared over 11% in the last 24 hours to trade at $0.00009181 as of 6:15 a.m. EST as investors rush to buy the crypto.
The FLOKI coin price pump made the meme coin the top gainer among major cryptos, according to CoinMarketCap. It has far outpaced the rest of the market, with the next best performer, JasmyCoin (JASMY), only posting a 2% gain in the same period.
Floki Inu Price Trying To Break Above Resistance
Daily chart for FLOKI/USD (Source: GeckoTerminal)
The Floki Inu price is attempting to overcome a resistance level at $0.00009048, data from GeckoTerminal shows. Clearing this technical obstacle could pave the way for the meme coin to rise to the next major level at $0.00009877 in the following couple of days.
The FLOKI Coin currently finds itself in a medium-term positive trend. As such, traders might start to realize their profits from the recent rally. Should this be the case, it will lead to some sell pressure on the altcoin’s price that could push it towards the $0.00008134 support in the short term. In an extreme case, the Floki Inu price might even drop to as low as $0.00007177.
A Fresh Bullish Signal Suggests The Floki Inu Price Might Keep Climbing
From a technical standpoint, indicators on the daily chart suggest the meme coin’s bullish phase is still in its early stages.
In the last 48 hours, a major bullish technical flag was triggered by the 20 and 50 Exponential Moving Averages (EMAs) on the daily chart, with the shorter line crossing above the longer line during this period. This technical event is often regarded as a confirmation that a crypto has entered a positive medium-term trend.
Buyers currently have the upper hand as well, which is suggested by the high Relative Strength Index (RSI) reading above 70. Although the latest value warns the Floki Inu price is in overbought territory and might correct soon, there are instances when RSI readings have remained high for sustained periods of time. This usually happens when a crypto is pumping.
The positive slope of the RSI line suggests the meme coin’s price might continue to rise in the short term. However, traders will want to be on the lookout for a potential correction or even a negative change in trend.
As the Floki Inu price tries to keep its bullish momentum going, investors are also buying into the presale for BTC Bull Token (BTCBULL). According to influential YouTube channel 99Bitcoins, which has over 725K subscribers, BTCBULL has the potential to soar 10X after its launch.
A New, Much More Affordable Way To Gain Bitcoin Exposure
BTC Bull Token is a Bitcoin-inspired meme coin that wants to support the crypto market leader on its journey to $1 million per coin and beyond. As Bitcoin climbs to new heights, the project has set BTC airdrops and BTCBULL token burns that will be triggered at certain price milestones.
The first Bitcoin airdrop will happen when BTC reaches $150K for the first time. Thereafter, every new $50K milestone achieved by Bitcoin will lead to another airdrop.
With regards to the BTCBULL token burns, they will follow the same milestone-based approach. The first burn will happen when BTC hits $125K, with every subsequent $25K increase in Bitcoin’s price permanently removing tokens from the meme coin’s supply as well.
By constantly shrinking BTCBULL’s circulating supply, the meme coin becomes more scarce and therefore more valuable as well. The meme coin’s value could be boosted further if investors start to frantically buy BTCBULL to get in on the BTC airdrops.
A buying frenzy is likely to erupt. With Bitcoin trading above $95K and institutional interest in the crypto growing, BTCBULL may be one of the only ways to gain much cheaper exposure to the leading crypto.
BTCBULL Presale Smashes $5.1M Mark
Investors have already identified BTCBULL’s presale as an opportunity that is too good to pass up. So far, the meme coin has raised over $5.1 million in early-stage funding.
There is still time for investors to get in on the presale. Priced at $0.00249, BTCBULL can be bought with both crypto or bank card through the simple widget embedded on the project’s website. BTCBULL tokens can also be staked in the project’s presale staking pool for a 79% annual return.
Investors that want to secure the best presale deal will want to act fast because BTCBULL’s price will increase as the ICO progresses. The next price hike is scheduled to come into effect in less than 3 days.
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