Great meme lover, Tesla CEO and fake chairman of the Dogecoin board Elon Musk, has helped another meme cryptocurrency add 20% in just a few hours: Floki Inu.
Three hours ago, the centibillionaire posted a tweet about the Vikings being the first to get to the moon as a U.S. space mission found the remnants of a Viking ship on Earth’s natural satellite.
The community connected it with Floki—the peculiar shipbuilder from popular TV series “Vikings.” Thus, the Floki Inu coin printed an almost 20% surge on the tweet of Elon Musk.
According to @CoinMarketCap , after the tweet, the price of @RealFlokiInu token has risen from $0.00022 to $0.00026, an increase of 18% in the past hour. https://t.co/jxVEkH8kPj— 8BTCnews (@btcinchina) November 3, 2021
Musk has been pumping mostly Dogecoin with his meme tweets. However, as he often also tweets about Shiba Inu, SHIB also gains momentum from his tweets. The fact that Musk’s Shiba Inu pupply is named Floki allows this coin to grow on his Twitter posts, too.
As reported by U.Today earlier, Musk’s little Floki has been appointed to be the fake president of Dogecoin. The Tesla CEO has been chosen as the fake chairman of the Dogecoin board.
At the moment, FLOKI is worth more than SHIB as the coins are trading at $0.0002501 and $0.00006577, respectively.
Floki Inu Price Prediction: Expect FLOKI To Make A 44% Upswing To $0.0002350
Floki Inu price is trading at the $0.0001655 with a bearish bias amid immense pressure from the upper boundary of the descending channel and 100-period simple moving average (SMA) around $0.0001750. FLOKI bulls are struggling to break out of the descending channel but face stiff resistance upwards.
Floki Inu Price Could Rise To $0.0002350
Floki Inu (FLOKI) is on the path to recovery after successfully bouncing off the $0.0001227 embraced by the middle boundary of the falling parallel channel. This bounce back took FLOKI price to a high of $0.0001760 before being rejected by the 100 SMA at around $0.0001750.
This was a 45% rise that saw Floki Inu price flip the 50 SMA from resistance to support. At the time of writing, FLOKI is fighting immense resistance from the upper boundary of the descending channel at $0.000169 and the 10 SMA at $0.0001750.
A bullish break out above this level could see Floki Inu price rise to retest the resistance from the 200 SMA currently at $0.0002171.
If FLOKI bulls overcome the resistance from the said level, the meme coin could rise to tag the November 19 range high around $0.0002350 representing a 44% upswing from the current price.
FLOKI/USDT Four-Hour Chart Live Chart
Note that the Moving Average Convergence Divergence (MACD) indicator is upward moving and has just crossed the zero line into the positive region accentuating the upward outlook.
Looking Over The Fence
Note that the Relative Strength Index (RSI) is showing a negative divergence is it turns downwards away from the overbought region. This means that the bears have not given up on pulling Floki Inu price down.
Hence, failure to hold above the 50 SMA will trigger immense sell orders that would see FLOKI fall to tag the middle boundary of the governing chart pattern at the $0.00010 psychological level.
A drop further may see Floki Inu drop to tag the $0.000050 psychological level or towards the target of the descending parallel channel at $0.000037.
Floki Inu to Be Promoted on Burj Khalifa
Floki Inu continues its marketing blitz
Floki Inu, a cryptocurrency project inspired by Elon Musk’s Shiba Inu dog, is ramping up its marketing efforts.
#FLOKI LOCKS DOWN THE BURJ KHALIFA
In what will be a landmark campaign symbolic of our strategic intent to dominate the Middle East, $FLOKI will have a massive display on the Burj Khalifa on the 3rd of December, 2021 – at 8:40PM Dubai time/4:40PM UTC. pic.twitter.com/y9090nbt7s— Floki Inu (@RealFlokiInu) November 30, 2021
Its team has just announced that the token will be promoted on the Burj Khalifa, the legendary skyscraper in Dubai that remains the world’s tallest building.
The advertising campaign is meant to help Floki Inu gain a footing in the Middle East.
The coin’s logo will be projected onto the 2,722-feet tall skyscraper on Dec. 3 in the middle of the UAE’s main National Day celebrations.
In a first for the Burj Khalifa, it will be displaying the word “cryptocurrency,” further legitimizing the industry.
The cryptocurrency project, which competes with Dogecoin and Shiba Inu, has also partnered with several football clubs.
Floki Inu also came under severe criticism for taking over London’s transportation system with its aggressive ads.
Floki Inu Price Prediction: FLOKI Aims For A 13% Rise To $0.0001808 Range High
Floki Inu price prediction is bullish as it trades approximately 40% above Sunday’s intraday low at $0.0001150. After successfully bounding off the $0.0001220 support floor, FLOKI/USDT has rallied approximately 22.30% over the last 24 hours.
The performance of the FLOKI price has outdone other meme coins with Dogecoin (DOGE) rising just 3.11% on the day and the self-proclaimed “Doge-Killer” Shiba Inu (SHIB) rising just 2.54% over the same timeframe accprding to data from CoinmMarketCap.
FLOKI trading volume has increased to $33,591,604, as 24% increase in the past 24 hours which points to a positive outlook for the asset in the near term.
Floki Inu Price Prediction: Bulls eye $0.00018018 Range High
Floki Inu (FLOKI) is trading in a fifth bearish session at $0.0001597 as seen on the four-hour chart. The recent rally has seen FLOKI rise above the November 23 downtrend line as bulls are focused on undoing some of the losses.
The meme coin appears to be battling immediate resistance from the 50-four-hour Simple Movign Average (SMA) at $0.0001615. Flipping this level into support could trigger massive buy orders that could push FLOKI towards the November 26 range high above $0.0001808. This represents 13.47% rally from the current price.
FLOKI/USDT Four-Hour Chart Live Chart
The upsloping Relative Strength Index (RSI) accentuates this positive outlook.
Also note that the Moving Average Convergence Divergence (MACD) indicator sent a call to buy FLOKI on November 28. This occurred when the blue MACD line crossed above the orange signal line marking the start of the current bullish run. Floki Inu price prediction on the upside will gain more traction once the MACD crosses the zero line into the positive region.
Looking Over The Fence
The above bullish Floki Inu price prediction may be invalidated if the asset fails to close above the 50 SMA at $0.0001615. If this happens, FLOKI may be forced to consolidate above the $0.0001458 support level before restarting the uptrend.