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- Floki’s listing on Binance generates investor enthusiasm.
- FLOKI token value and market capitalization rise.
- Technical analysis reveals a bullish trend and possible price escalation.
The cryptocurrency sector is buzzing with excitement following the announcement of Floki, a new digital asset inspired by a character from the TV series Vikings, being listed on Binance. As a result, this news has ignited significant interest in the token, with investors eager to take advantage of the expected price rise.
Data from Coinmarketcap indicates that the value of a single FLOKI token has surged by 34.57% within the day to $0.00003863 at the time of this report. The analysis also shows that the token’s market capitalization increased by 34.73% to $377,313,248, while its trading volume has escalated by 450.53% to $66,774,905.
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Furthermore, the demand for FLOKI in the spot market has seen a marked increase, with a significant uptick in both buyers and sellers engaging in transactions. This trend reflects a growing enthusiasm for the token among investors.
A possible reason for this surge is the partnerships and developments that FLOKI has recently announced, which have enhanced investor confidence and sparked greater interest in the project.
In line with this, according to Tradingview, the $FLOKI chart is exhibiting a “W pattern,” a bullish indicator suggesting a potential price reversal. This pattern consists of two troughs at approximately the same level, with a higher peak in between, resembling the letter “W.”
$FLOKI is currently depicting "W pattern". #FlokiInu has already crossed the neckline where it is now headed to the target of $0.000040315.
Following the recent announcement from #Binance US, that #FLOKI is listed on the exchange, price of the token is climbing up.… pic.twitter.com/eWHNJEX27G— TheNewsCrypto (@The_NewsCrypto) April 24, 2023
According to technical analysis, Floki Inu has already breached the neckline of the pattern, indicating a breakout and a potential price increase. Additionally, the anticipated target for the token is approximately $0.000040315, suggesting a considerable potential profit for investors.
