FLOKI Price Prediction: FLOKI Retreats 3%

FLOKI Price Prediction: FLOKI Retreats 3% – Are Investors Cautious?

Updated: 22 August 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The price of Floki Inu (FLOKI) has seen intense volatility in the past week, followed by several weeks of trading sideways. During the last week of July and the first two and a half weeks of August, FLOKI’s price fluctuated between a support at $0.000022 and a resistance at $0.000024.

The popular meme coin saw a more substantial price surge on August 15, which took it past $0.00002400 for the first time, reaching $0.00002477. However, the resistance did not break; the price was rejected strongly enough to break the support held for the past month.

FLOKI initially dropped to $0.000002123, and it seemed like it would recover for a time.

However, with the Bitcoin price crash, FLOKI followed, hitting a new bottom at $0.00001796. Between August 18 and 22, the token traded sideways, with barely any fluctuations visible on the weekly chart. It lost over 26% in the past seven days and remained at $0.000018.

In the last 24 hours, however, it is clear that the volatility is still present, only at a microscopic scale. The token’s price was $0.0000187 24 hours ago, from where it dropped to $0.0000182.

After that, it rose again to $0.0000185, only to fall to $0.0000183 early on August 22. Then, it tested a minor resistance at $0.0000184 again, only to get rejected to the current price of $0.0000181.

Will FLOKI Bulls Take Over?

Before Bitcoin’s price drop, likely the main factor that caused FLOKI to crash, analysts expected the bulls to draw the token into a new rally.

The price was still around the lower bound and support zone at the time, but traders and analysts were optimistic. As mentioned, the price grew on August 15 but quickly crashed.

One positive development recently came when FLOKI started collaborating with BNB. It was revealed that the meme coin’s crypto locker protocol, flokifi locker, had been launched on opBNB.

This high-performance L2 solution from the BNB chain provides higher throughput and cheaper fees to fully utilize the chain’s potential. Despite this, investors remain highly cautious of the meme cryptocurrency, as the event had no positive impact on the token’s price.

The potential impact of Shibarium Layer 2 has also been questioned. The project’s new technology is poised to metamorphose the meme coin market.

However, its effect on FLOKI, SHIBArmy’s brainchild, remains to be seen. Floki Inu already has an alluring burn program and hyper-deflationary nature, bringing in numerous market participants.

With Shibarium Layer 2 promising to boost scalability and remove network congestion, FLOKI could start seeing greater use and demand.

Launchpad XYZ Raises Over $1.3 Million

While many are waiting to see what will happen to FLOKI, some are turning to new cryptos still holding their presales. By purchasing a token at this stage, they are safe from volatility, at least for now. One of the most popular options is Launchpad XYZ (LPX), which has already raised $1.37 million. The presale has a $1.55 million goal, meaning it is close to achieving it.

The LPX token’s price during presale is $0.0445, and it can be bought in exchange for ETH, USDT, BNB, or via card.

The token is a native cryptocurrency of the Launchpad XYZ platform, which aims to provide developers with everything they need to become winners in Web3. It offers an easy-to-use community-driven ecosystem to ensure everyone will make the most of the next bull run.

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