In the midst of the crypto market’s recent resurgence, Floki, the popular meme coin, has made headlines with an impressive 75% surge in its weekly performance. This remarkable rally comes on the heels of a broader crypto uptrend ignited by Bitcoin’s climb to $35,000.
A deeper dive into on-chain data reveals a surge in whale investor activity centered around Floki, resulting in increased price volatility as the coin broke through significant monthly resistance levels.
As of now, the coin is trading at $0.00003097, displaying a 75% surge on the weekly chart, while the daily chart reports a 22% increase. The 24-hour trading volume has also skyrocketed by 235.50%, hitting $170.14 million.
PricePredictions.com‘s technical analysis suggests a bullish long-term trend, projecting a potential rise to $0.00003 by November 2, marking an increase of $0.00000091 over the next seven days. However, machine learning algorithms predict a bearish trend in the short term, signaling a slight decrease in the coming hours.
Floki’s Staking Program
In an exciting development, the team announced the launch of its $FLOKI staking program on October 27, 2023. To make the staking program sustainable, Floki is set to introduce a sister token that stakers can earn as a reward. This utility token is designed to target an industry with trillions of dollars in potential, and more details will be unveiled in the Valhalla metaverse.
Despite these positive developments, there’s a looming threat. The team has issued a stern warning regarding scammers taking advantage of the upcoming sister token launch. They’ve outlined crucial facts to protect investors, emphasizing that the team will never send unsolicited messages requesting tokens, wallet connections, or presale participation for the sister token.
Moreover, Floki core team members will not initiate direct messages for fundraising or any activities related to the sister token. Any such communication is a clear sign of a scam. Additionally, there won’t be a new Telegram group specifically for the sister token; all official announcements will be made on existing Floki communication channels.