FLOKI recently surged above a bullish pattern, signaling a potential prolonged uptrend. Recent data suggests that the memecoin is progressing towards its intended targets. Additionally, a significant proposal has been successfully approved, potentially providing additional momentum for growth in its market performance.
There is a lot going with FLOKI
The well-known crypto-analyst World Of Chart just tweeted about how FLOKI broke over a bull trend. As per the same, the price of FLOKI formed a bullish symmetrical triangle pattern in March and just broke above it.
The memecoin's price can increase by +100% as a result of the breakout. The tweet also stated that FLOKI has been doing well, as seen by the altcoin's 15%+ appreciation since the previous breakthrough.
Meanwhile, the memecoin declared the passing of a significant proposal. According to FLOKI DAO's official X account, 99.84% of voters supported burning 15,246,000,000 FLOKI tokens.
Given that token burns alter the supply that is in circulation and raise the price of assets, this deflationary feature may benefit FLOKI in the long run.
Even while the aforementioned two events were promising, the reality was rather different. In just one day, the memecoin's price dropped by almost 5%, according to CoinMarketCap.
With a market valuation of more than $2 billion, the memecoin was trading at $0.0002121 at the time of writing. This tendency could soon alter, though.
According to LunarCrush's most recent tweet, FLOKI's Altrank reached the top. First off, FLOKI's statistic suggested that there would shortly be a price increase. Altrank is determined by integrating market and special activity.
May 2024, Cryptoniteuae