The crypto market experienced a downturn today, led by Bitcoin, following several days of gains. Despite this, a prominent analyst has made a bullish prediction about Floki (FLOKI), suggesting it could surpass rivals Dogecoin (DOGE) and Shiba Inu (SHIB) in the next bull cycle.
Can FLOKI Lead the Meme Coins?
Inmortal, a renowned crypto analyst, stirred excitement among meme coin enthusiasts with his recent statements on X. He projected that FLOKI could increase by over 43% from its current price point.
Inmortal shared, “There is a 102% sensitive wavy line here. I mentioned months ago, ‘FLOKI will lead memecoins,’ and it’s manifesting now. FLOKI’s ascent continues.” By analyzing the provided chart, he anticipated that the altcoin might revisit the $0.0001500 level before embarking on a new rally aimed at $0.000250. At the time of writing, Floki was priced at $0.000169, having dropped 7.94% in the last 24 hours.
What’s Next for Bitcoin?
In addition to FLOKI, the analyst also focused on Bitcoin (BTC). He predicted that BTC could hit levels between $61,000 and $63,000 before potentially moving to $68,000. He noted, “A range between $61,000 and $63,000 is a strategic point for a pullback.”
Bitcoin was trading at $63,300 at the time of reporting, following a decline of over 2% in the past 24 hours. Concurrently, the trading volume fell by 21%, totaling $27.4 billion.
Ethereum’s Potential Moves?
The analyst also provided insights into Ethereum (ETH), suggesting that ETH could test the $3,200 level before potentially advancing to $3,800. He remarked, “$3,200 is a critical point to anticipate a drop aligning with the weekly opening.”
His analysis included a chart showing that ETH/BTC could establish support around 0.055 BTC, similar to 2022, advising followers with, “You know what to do.” ETH/BTC was trading at 0.054 BTC, equivalent to $3,423, at the time of writing.
Key Takeaways for Investors
- Floki (FLOKI) could rise by over 43% from its current level.
- Bitcoin (BTC) may reach between $61,000 and $63,000 before advancing to $68,000.
- Ethereum (ETH) might test $3,200 before moving to $3,800.
- ETH/BTC could turn around 0.055 BTC into support.
These insights could serve as valuable indicators for investors looking to navigate the volatile cryptocurrency market effectively.