Is Floki Heading Towards Zero? FLOKI Value Decreases by 0.8%, Investors Turn to This New GambleFi Token

The Floki Inu (FLOKI) price is experiencing downward pressure on Monday as the weekend’s optimism in the cryptocurrency market gives way to caution, with investors now focusing on a new GambleFi token named Mega Dice (DICE).

FLOKI was recently down nearly 5% for the day, trading just below $0.00018.

The meme coin has once again encountered significant resistance at its 50-day moving average, indicating that the bulls have not yet regained dominance.

Chart analysis indicates a potentially favorable outlook for a near-term upward movement, however.

Bullish Chart Analysis – Floki Isn’t Going to Zero Anytime Soon

In late April, the Floki price broke its downtrend from the highs seen in March.

It subsequently found robust support at this previous downtrend at the beginning of May, which is a very positive indicator.

The Floki price turned bullish after this breakout last month. Source: TradingView

Moreover, the Floki price seems to have spent the past few weeks forming an ascending triangle, a pattern that typically appears before bullish breakouts.

If FLOKI can soon rise above $0.00020, a swift retest of March highs exceeding $0.00030 could be feasible.

The Floki price could soon challenge recent highs if it can break above this resistance area. Source: TradingView

Positive short-term technical indicators and long-term support, such as Floki’s strong community, imply that Floki is unlikely to approach zero in the near future.

However, FLOKI remains a highly speculative cryptocurrency for investment. Its inflated market capitalization of $1.7 billion suggests that, while there is potential for growth, any such increases will be challenging to achieve.

Meme coins like Floki often lack clear utility, which means they can experience rapid declines as negative sentiment takes hold.

It is not surprising that Floki investors are shifting their attention to a new utility-driven GambleFi token called Mega Dice.

Floki Alternative to Consider – Mega Dice (DICE)

Crypto investors seeking opportunities with greater upside potential than Floki should explore presale investments.

Web3 projects and protocols frequently offer their native tokens at a discount to early investors to secure funding for development.

If presale investors can identify a promising project that gains traction in the market, they may realize substantial gains.

One project that analysts at Cryptonews highly recommend is Mega Dice Casino.

This already established crypto casino has initiated a presale for its utility token, DICE.

DICE holders benefit from significant cashback on their bets and can earn passive income through DICE staking.

The crypto casino is also conducting a $750,000 airdrop to reward early presale participants.

Don’t Miss Out! Join the $DICE Airdrop and Earn Your Share of a $750,000!

Learn how below pic.twitter.com/OqbkcWR2LL

— Mega Dice Casino (@megadice) April 30, 2024

The project has already secured $700,000 in funding.

Potential investors may want to act swiftly, as the DICE price is set to increase once the $1 million milestone is reached.

We’ve just crossed $700K in our presale & hit 8k Telegram members – to celebrate, we’re giving away $4000 in SOL!

Don’t miss out on the opportunity to win BIG with Mega Dice Casino!

Take part here https://t.co/wSxiRnIHlz pic.twitter.com/NDMbxQLawK

— Mega Dice Casino (@megadice) May 3, 2024

Mega Dice is also implementing a referral program.

Refer & Earn with $DICE!

Imagine your referral spends $1000, you will then automatically receive your 10% referral fee of $100

Sounds good right? Here’s how to get started: pic.twitter.com/lBX2izatxp

— Mega Dice Casino (@megadice) May 6, 2024

Check Out Mega Dice Casino’s Presale

The post Is Floki Going to Zero? FLOKI Price Drops 0.8%, Investors Stack This New GambleFi Token appeared first on Cryptonews.