As a seasoned crypto investor with a knack for spotting potential gems and a keen eye for market trends, I find myself increasingly optimistic about Floki (FLOKI) following its consecutive daily price rises. The upcoming Wise Monkey airdrop, one of the most anticipated projects in crypto as per CoinMarketCap’s $263 million market cap, is undeniably a game-changer for FLOKI holders.
As a crypto investor, I’ve noticed an exciting development – for two days running, the Floki price has surged, aligning with the broader market recovery of digital currencies. The anticipation of the forthcoming Wise Monkey airdrop seems to be fueling this momentum.
As a cryptocurrency analyst, I’m observing a significant rise in the value of FLOKI, one of the prominent meme coins in the market. Currently, it’s trading at approximately $0.000248, marking an impressive 22% increase from its lowest point this week.
Following the disclosure of more specifics regarding the Wise Monkey airdrop, developers announced, the FLOKI token holders stand to receive approximately 27% of all MONKY tokens by December 20th. Furthermore, an extra 4% of MONKY tokens are allocated for TokenFi users, and another 4% is earmarked as rewards for Floki Bot traders.
IMPORTANT UPDATE ABOUT THE WISE MONKEY / $MONKY TOKEN
As previously communicated, Wise Monkey allocated 35% of the total $MONKY supply for airdrops to the Floki Ecosystem based on the following breakdown:
– 27% of MONKY will be airdropped to FLOKI holders and stakers.
– 4% will…— FLOKI (@RealFlokiInu) December 12, 2024
It’s anticipated that this distribution will be advantageous for Floki traders, given that Wise Monkey is widely regarded as an eagerly awaited cryptocurrency project. As per CoinMarketCap, the market capitalization of MONKY has surpassed a staggering $263 million.
Similarly, the cost of Floki increased prior to the anticipated launch of the Valhalla mainnet, originally set for December, but has been pushed back to the first three months of 2025.
The developers pointed out that delaying the launch would provide the auditors with an opportunity to scrutinize the smart contract, aiming to identify and eliminate any potential weaknesses.
In the meantime, Floki’s token burning strategy has been ongoing, lowering the number of tokens in circulation. According to CryptoEye, the network has incinerated more than 5.7 trillion tokens over the past quarter, and it appears this process will carry on.
Floki price is ripe for a bullish breakout
Over the last several weeks, Floki’s day-to-day trends suggest a period of consolidation. This is shown by a bullish flag pattern, which starts with an extended upward trend and then transitions into a horizontal rectangle shape.
The cost currently surpasses both the 50-day and 100-day exponential moving averages, and it’s fluctuating within the range defined by the 38.2% and 23.6% Fibonacci retracement levels.
Furthermore, Floki’s trading behavior appears to be shaping like a cup-and-handle chart pattern. If this trend persists, we might witness a significant price surge, possibly reaching the yearly peak of $0.0003480, which is a 42% rise from its current value.
For this transaction, a safety measure called a stop-loss has been set at the average moving price of the past 50 days, which is approximately $0.0002100. If the price falls below this point, it might suggest a possible continuation of the downtrend.
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2024-12-12 17:04