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The Floki price surged 26% in the last 24 hours to trade at $0.0003420 as of 03:41 a.m. EST on trading volume that plunged 82% to $5 million.
This comes as FLOKI soared to a new all-time high of $0.0003449 and with the meme coin market surging 6% to reach a market capitalization of $65 billion.
FLOKI’s new ATH came amid DWF Labs’ decision to buy $12 million worth of Floki tokens as a means to support its growing ecosystem.
DWF LABS TO PURCHASE $12,000,000 IN FLOKI TOKENS TO SUPPORT THE FLOKI ECOSYSTEM
As a testament to its unwavering support for the #Floki Ecosystem, DWF Labs will purchase $12,000,000 in $FLOKI tokens. A portion of the tokens will be acquired from the market, and the rest will be… pic.twitter.com/z2kHiUgAdc
— FLOKI (@RealFlokiInu) June 4, 2024
Floki Price To Sustain The Bullish Rally Above Its ATH
The Floki price has been on a tear since May, registering 68% gains in the last 30 days. FLOKI has been trading within a rising channel pattern, data from GeckoTerminal shows.
FLOKI bulls aim to sustain the bullish momentum over the upper boundary of the rising channel pattern.
The bullish potential is supported by the Floki price trading well above both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, on the 4-hour chart, the Relative Strength Index (RSI) trades over the 70-overbought region, currently at 80, an indication of intense buying pressure and continued investor optimism.
The Moving Average Convergence Divergence (MACD) line (blue) crosses over the signal line (orange), forming a bullish crossover, which is an encouragement for the bulls to buy more. The green bars on the histogram also extend over the neutral line, showing that FLOKI is currently on a positive momentum.
Floki Price Prediction
The Floki price analysis shows that the token is on a strong bullish trend, with FLOKI already crossing over the upper boundary of the rising channel pattern.
The MACD and RSI indicate that the buyers are buying more, which may push the price higher, with the bulls currently targeting a new ATH at $0.00045.
However, with the asset being highly overbought, it may prompt the bulls to start booking profits, which could drive FLOKI to a retrace back to $0.000268, which coincides with the 50-day SMA.
As the Floki price soars, other meme coin lovers are buying into a new DOGE derivative ICO called PlayDoge. It aims to follow in the paw prints of other canine-themed tokens like Dogecoin itself and Shiba Inu (SHIB).
PlayDoge Presale Raises Over $2.2 Million In A Week – Best Meme Coin To Buy Now?
PlayDoge (PLAY) is a mobile-based play-to-earn (P2E) game that transforms the DOGE meme into a Tamagotchi-style virtual pet, which allows users to earn $PLAY tokens.
Don’t ghost your #Doge or it’ll die 👻
Feed your Doge, earn rewards, and level up. No mazes, just fun!#Presale has launched! 🙌#PlayDoge #P2E #Memecoin pic.twitter.com/Fp2sFwycpj
— PlayDoge (@PlayDogeGame) May 31, 2024
The project’s presale has had an explosive start, reaching over $2.2 million in funds raised in a little over a week since it launched.
The project is based on PlayDoge, a virtual dog that acts as a P2E companion. Through the P2E mechanics, the project allows players to earn rewards by caring for their pet. You also take it on adventurous journeys, earning $PLAY tokens in the process.
PlayDoge functions on the BNB Smart Chain, created by the world’s largest crypto exchange, Binance. The blockchain allows users to have easy access to transaction efficiency and seamless integration of gaming activities.
The platform also allows $PLAY token holders to earn passive income through its staking option, where users can earn an annual percentage yield (APY) of 142%.
Jacob Bury, a prominent crypto analyst and YouTuber, says that PlayDoge could surge 10X after its launch.
You can buy $PLAY tokens for $0.00503 each. With a price hike coming in about 2 days, buy soon to lock in the best deal.
To join the presale, buy $PLAY from the official website here using BNB, USDT, or a bank card.
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