dailyhodl.com
A closely followed crypto analyst believes that one red-hot Dogecoin (DOGE) rival is gearing up for more massive gains.
Pseudonymous trader Kaleo tells his 641,600 followers on the social media platform X that Floki ($FLOKI)’s market cap could soar to at least $10 billion, more than 3x the current value.
The analyst says Floki could head much after forming a cup-and-handle pattern, a bullish technical indicator.
“Don’t need a fancy chart here. Just look at $FLOKI zoomed out.
- Retesting its 2021 all-time high.
- Clean high time frame cup and handle.
- $BNB is on the verge of price discovery.
- Memecoin super cycle.
This sends to $10 billion plus on the next leg up easily.”
The analyst compares Floki’s current price pattern to another red-hot memecoin, Pepe ($PEPE), before its sudden rise.
He also believes that Floki is benefiting from being based on Binance’s $BNB Chain while $BNB, the native token of the $BNB Chain, is in an uptrend.
“Low timeframe $FLOKI does look a lot like $PEPE did before its last move higher. It has a similar narrative as well: $PEPE being a high ETH beta meme play, $FLOKI being a high $BNB beta meme play.”
Floki, with a current market cap of $3.1 billion, is trading for $0.0003182 at time of writing, up more than 1,000% since trading for $0.0000269 four months ago on February 5th.
Generated Image: DALLE3