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The Floki Inu price pumped over 16% in the last 24 hours to trade at $0.00007935 as of 5:51 a.m. EST as investors rush to buy the crypto.
The FLOKI coin price has been in a bullish medium-term trend, with the latest surge pushing the meme coin’s weekly performance to more than 39% in the green.
Floki Inu Price Eyes Resistance Shortly After Breaking Above A Key Barrier
Daily chart for FLOKI/USD (Source: GeckoTerminal)
The Floki Inu price managed to break above a resistance level at $0.00007104 in the last 24 hours and is now attempting to breach the next major barrier at $0.00008103, GeckoTerminal data shows. If the meme coin is able to clear this second technical obstacle, it could clear the room needed to rise to as high as $0.00009145 in the next couple of days.
That bullish thesis might be invalidated if sellers successfully defend the $0.00008103 resistance over the next 24 hours.
Traders might then start to realize their profits, which could introduce sell pressure on the crypto’s charts. In this alternative scenario, the Floki Inu price might end up testing the $0.00007104 level as support before a potential plunge to as low as $0.00006192.
Bulls Have A Tight Grip On The Floki Inu Price, Pointing To A Trend Continuation
A bullish scenario seems more likely to play out heading into the weekend, looking at technical indicators on the daily chart. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bullish and suggest the Floki Inu price might keep climbing.
Momentum has been in bulls’ favor throughout the last fortnight, as evident by the MACD line’s positioning above the MACD Signal line over this period. In recent days, the prior has started to break away above the latter, which could be a sign of FLOKI Coin’s bullish momentum picking up steam.
Supporting the bullishness shown by the MACD, the daily RSI has also been in an upward trend over the past few days. Traders usually see rising RSI readings as a sign of growing buyer strength.
The steep ascent in the indicator’s values from around 50 to above 70 indicates that buyers currently have a tight grip on the Floki Inu price. However, the latest reading also warns the meme coin is overbought, which is a classic sell signal.
Traders don’t always act on this signal, and the positive slope of the RSI line suggests this might be the case in this instance.
As the Floki Inu price looks to continue its bullish move, traders are also flocking to the presale for new meme coin BTC Bull Token (BTCBULL). According to YouTube channel 99Bitcoins, which has over 725K subscribers, BTCBULL has the potential to soar 10X after its launch.
BTCBULL: Best Crypto To Buy Now?
BTC Bull Token is a meme coin like no other, and offers its holders actual Bitcoin via free via airdrops. Created with the belief that the largest crypto by market cap will soar to above $1 million per coin, the project will distribute free Bitcoin to its loyal holders at certain BTC price milestones.
The first airdrop will happen when Bitcoin breaks $150K. Every subsequent $50K increase in the crypto king’s price will then also trigger BTC airdrops.
In addition to the airdrops, there will be BTCBULL token burns at certain Bitcoin price milestones as well. According to the project’s website, the first of these events will be when BTC reaches $125K, with every $25K increase thereafter also permanently removing BTCBULL from the supply.
The token burns are implemented so that BTCBULL mimics BTC’s growing scarcity and value over time. These events, combined with the demand from investors looking to get in on the BTC airdrops, could lead to a skewed supply and demand ratio and a subsequent rally for the meme coin.
This is why experts like 99Bitcoins are so bullish on the new token, and why many consider BTCBULL the best crypto to buy now – an argument that is strengthened by the fact that the project gives investors a much cheaper way to gain BTC exposure.
BTC Bull Token Presale Surges Past $5 Million
Investors are betting big on BTCBULL’s future, and have already poured more than $5 million into the project’s ongoing presale.
Anyone that wants to get in early can do so by purchasing BTCBULL for $0.00248 apiece through the easy-to-use widget embedded on the project’s website. The meme coin can be bought with both crypto and bank card, and can also be locked up in BTC Bull Token’s presale staking pool for an 82% annual return.
Interested investors will want to buy before a price hike in less than 2 days.
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