The Floki price has rocketed by 25% in the past 24 hours, with its surge to $0.00003824 coming as the wider crypto market falls by 1.5% today.
FLOKI has now risen by a very impressive 100% in a week and by 143% in a month, with its recent performance enabling it to enter the top 100.
Its enviable performance today comes after Floki Inu launched its own tokenization platform, TokenFi, which promises to boost adoption of the meme token.
And with the market gaining momentum in recent days, the Floki price may rise even further over the weekend.
Floki Price Prediction as FLOKI Blasts Up 30% and Becomes Top 100 Crypto in the World – Are Whales Buying Again?
FLOKI’s price has broken out in the past few days, as a result of the positive TokenFi news.
Its indicators reflect its performance, with its relative strength index (purple) remaining above 80 after surging earlier this week.
This indicates some very strong momentum, even if an RSI above 80 would suggest that an asset is overbought.
However, FLOKI’s 30-day average (yellow) tells a slightly different story, in that it still hasn’t climbed over its 200-day average (blue) yet.
And given that there’s still plenty of space between the two averages, this would suggest that the altcoin could rise further before correcting.
Also supporting this positive view is the coin’s 24-hour trading volume, which has jumped from just over $6 million a month ago to $300 million today.
This signals a massive growth in interest in FLOKI, with whales likely making up a big portion of this increase.
As noted above, the biggest factor in FLOKI’s rally is likely the launch of TokenFi, which Floki Inu announced yesterday.
FLOKI LAUNCHES TOKENFI (with “TOKEN” ticker) TO CAPITALIZE ON THE TRILLION-DOLLAR TOKENIZATION INDUSTRY
Floki has launched a crypto and asset tokenization platform named @TokenFi to capitalize on the trillion-dollar tokenization industry.
The tokenization industry is projected… pic.twitter.com/lCPo1fUDGp
— FLOKI (@RealFlokiInu) October 26, 2023
TokenFi is a tokenization platform with its own native TOKEN coin, which will operate on the Ethereum and BNB Chain networks.
According to Floki Inu’s official announcement, it will enable the tokenization of real-world assets and the creation of markets for such tokens.
Its major institutional partner is DWF Labs, which had previously received nearly 16 billion FLOKI at the end of September.
— Lookonchain (@lookonchain) September 30, 2023
Given such backing, TokenFi could be a big success, boosting demand for FLOKI.
If so, we could see the altcoin rise to $0.000050 in the next few weeks, before starting 2024 at around $0.00010.
Alternative Meme Tokens
Given that FLOKI’s indicators are near/in overbought positions, traders may be better off turning to meme tokens at the very start of upcycles.
One way of finding such coins is to look at presales, with the best presale coins often rallying hard when they list on exchanges for the first time.
One of the likeliest presale tokens to do this is Meme Kombat (MK), an ERC-20 cryptocurrency that has raised more than $775,000 since launching its presale a few weeks ago.
Just passed $750k…🏎
3/4 of the way there! pic.twitter.com/Z5zZwTzpQv
— Meme Kombat (@Meme_Kombat) October 26, 2023
Meme Kombat has raised so much money so quickly because of its unique concept.
Its platform permits users to bet on AI-generated battles between popular meme characters, with winners receiving rewards in its native MK token.
Another good sign of its early progress is its ability to grow its Telegram channel to over 3,000 members.
This provides some indication of how strong its community and userbase will be when it launches its platform in the next couple of months.
We have reached 3000 fighters in the Meme Kombat Telegram Community🎉
— Meme Kombat (@Meme_Kombat) October 25, 2023
As a token, MK will have a hard cap of 120 million, with 50% of this going to the presale.
The platform has allocated another 30% of this supply to battle and staking rewards, with holders able to earn a passive income simply by staking MK.
Investors can buy some early by going to Meme Kombat’s official website, where 1 MK currently costs $0.1667.
This will rise to $0.1883 on November 2, although it could rise even higher when the token lists on exchanges towards the end of the year.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.