Don’t Miss The Floki FOMO: Social Media Sends Meme Coin On 300% Rip

Christian Encila

11 months ago

3 mins read

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With a Shiba Inu mascot and self-described rival Dogecoin, Floki is bucking recent market concerns with a boost in social media excitement and fascinating ecosystem growth. Although the larger bitcoin market is still erratic, Floki seems to be forging its own course driven by a dedicated online community and calculated development plans.

Floki TA Shows Bullish Pattern

Technical analysts are noting a positive chart pattern developing around Floki. Renowned crypto analyst Jonathan Carter found an increasing triangular pattern, a technical signal sometimes before a price break.

This trend implies a possible increase in FLOKI’s value should it be able to surpass a critical resistance level at $0.000171. Furthermore, regular bounces back from the $0.00016500 barrier reveal great coin support, thereby providing some comfort to possible investors.

#FLOKI

The chart displays an ascending triangle, with strong support around $0.00016500💁‍♂️

The RSI indicates oversold, suggesting a rebound📊

If the price can hold this level, it could trigger a massive upward move🚀 pic.twitter.com/jSYNTnX7Nt

— Jonathan Carter (@JohncyCrypto) June 21, 2024

Charts only show Floki’s success. Social media interaction with the meme coin has exploded remarkably. Data shows over the past six months a startling 320% increase in social interactions and a 109% surge in social dominance.

This “share of voice” across channels like Twitter and Telegram points to a growing and very active community—a vital component for the long-term survival of any cryptocurrency.

Expanding Utility And Value Proposition

Floki is not content to be only a viral meme coin, though. The project is actively building a strong ecosystem that raises its use-fulness and value proposition.

One major change is its arrival into the fast growing play-to– earn (P2E) gaming business with Valhalla, a metaverse project letting players earn FLOKI tokens through games. Blockchain technology used with gaming could attract new consumers and investors.

FLOKI is currently trading at $0.00017. Chart: TradingView

Potential For Token Demand

Floki also brings a unique trade bot for the BNB Chain network. This bot runs on FLOKI tokens and can generate token demand by means of its fee structure, which consists in buying back FLOKI on the open market. This initiates a feedback cycle that could benefit bot users as well as FLOKI holders.

Through joint ventures with websites like Inverse Finance and Venus Protocol, users can stake their FLOKI tokens and borrow other large cryptocurrencies. This feature appeals to a bigger audience and provides the token more worth.

Floki is running concentrated efforts in Turkey, Vietnam, and Nigeria among other countries and is getting ready for worldwide marketing. Working with sports teams like Cádiz CF can help to improve brand exposure and loyalty. These projects might considerably expand Floki’s scope and user base.

Featured image from X/@wowdogethedog, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.