End Of The Road For FLOKI? Analyst Predicts 80% Crash For The Shiba Inu Competitor

Name	Symbol	Market	Market Cap ($)	Algorithm
FLOKI	FLOKIUSD	Crypto	1,639,944,808	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

FLOKI

FLOKIUSD

Crypto

1,639,944,808

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000176	0.000176	0.000176

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000176

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000185	0.000175	0.000177		0.00000000 - 0.000349

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000185

0.000175

0.000177

0.00000000 - 0.000349

Exchange	Last Trade	Size	Trade Price	Currency
CRTO	07:53:10	1,000.00	0.000176	USD

Exchange

Last Trade

Size

Trade Price

Currency

CRTO

07:53:10

1,000.00

0.000176

USD

Price x Volume	Volume	Base Symbol	Related Pairs
102,110.76	604,522,000.00	FLOKI	FLOKIEUR	FLOKIGBP	FLOKIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

102,110.76

604,522,000.00

End Of The Road For FLOKI? Analyst Predicts 80% Crash For The Shiba Inu Competitor

18/06/2024 7:30am

NEWSBTC

Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin. However, as investors throw money at FLOKI, one analyst expects this increase to be short-lived, predicting a massive price crash for the altcoin. FLOKI Poised For A Rally And Then A Dump Crypto analyst iMoneyTeam has predicted a dump for the FLOKI price that could erase all of the meme coin’s gains from the last few months. The analysis, which was posted on the TradingView platform, tracks the movement of FLOKI over the last few months in a bid to predict where the price is headed next. As the crypto analyst explains, the price has reached a “bearish iCH” in the internal structure, which has created “an internal pullback,” depicted on the chart below. Related Reading: Shiba Inu’s Shibarium Sees Triple-Digit Surge Across Major Metrics, What’s Going On? This is evident in the price pullback that has rocked the meme coin in the month of June so far. However, where a recovery is usually expected for an asset in this situation and a continuation of the rally, the crypto analyst believes that it is a setup for further pullback. For now though, the analyst identifies that there is still a lot of bullish pressure on the meme coin. This comes even as its price has broken a trend line, which would usually be bearish. But in this case, the bullish pressure could help the price hold its position. From here, there could be a recovery in price toward new all-time highs. However, after this is when the real problem begins for the cryptocurrency. Multiple Targets For The Meme Coin Going by iMoneyTeam’s prediction, before the FLOKI price will crash, there will be an increase in price. The chart shows a recovery to as high a $0.00044, which is an almost 60% increase in the meme coin’s price at the time of this writing. However, following this, the crypto analyst expects the Shiba Inu competitor to hit a supply zone, which will begin its decline. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Once the price starts to fall, the analyst expects the price to fall to as low as $0.00006. Now, from the current price of $0.00018, it would mean an 80% decline in price. However, if the price does hit a new all-time high price of $0.00044, as the analyst predicts before falling, then a crash to $0.00006 would mean an 86% decline. In terms of when this could happen, the crypto analyst does not give a timeline of events. However, the chart shows that the price would hit a demand zone around $0.00006, which would suggest that would be the bottom for the crash. Featured image from Asia Crypto Today, chart from Tradingview.com

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