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Despite being in a bad mood all week, Floki (FLOKI) is always very strong, according to crypto analyst. Basing his analysis on the similarities between past price movements, the analyst revealed Floki’s good strategy, predicting that the popular meme coin and Shiba Inu competitor set for a 2,000% surge.
Analyst Reveals Floki’s Master Plan
On the latest X (formerly Twitter) postedcrypto analyst, ‘Master Kenobi’ discussed Floki’s price movement over time, identifying a unique emerging chart pattern that could indicate future price of cryptocurrency. The analyst predicted that if Floki can continue this repeating pattern, a big price pump could happen around 22 October.
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According to the analyst, the Viking themed meme coin had a sharp increase of almost 92X in 112 days from 5 July 2021, followed by a long decline lasting 224 days, where the price has crashed 98.5%, reaching the bottom.
Notably, the analyst asserted that after hitting that low point, Floki entered a more structured growth phase. On Floki’s chart, Kenobi also identified three price consolidation periods represented by various purple triangles of the same but different height.
The analyst revealed that within these triangles, Floki’s price behavior is relatively predictable, marked by a red triangle. The lower part of this red triangle appears to be the best place to accumulate investors, indicating the best entry point Floki’s next ascent.
Kenobi has identified a continuing pattern where Floki tends to emerge from this triangle around October 22 each year, representing the start of a new phase of integration followed by big price pump. He noted that this price fuel is usually noted 35 days before the formation of the red triangle mentioned above.
Continuing this trend, Shiba Inu’s competitor experienced another 11X increase 112 days after breaking out of the purple triangle on October 24, 2024. Similarly, after the meme coin broke out of the purple triangle on October 24, 2023, it jumped 22X in 133 days.
Based on this repeating pattern, Kenobi suggested that Floki’s “magic day” of a possible bullish increase around October 22. The analyst predicted that if the pattern holds, investors should expect a price increase followed by 3 months of strong consolidation.
2,000% Price Pump to $0.002
Based on Kenobi’s observations highlighted above, he predicts that Floki may prove 1,000% going up and up or a 2,100% increase. The analyst revealed that if the initial situation in 2021 repeats, after 112 days of consolidation, Flock could see its price rise 11X to reach $0.0011. Additionally, its market capitalization is expected to rise to more than $12 billion.
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Conversely, if the second trend pattern in 2023 occurs this year, Floki’s price could jump to $0.0023 in 133 days, marking a 22X increase and its market capitalization rising to $25 billion. Despite Floki falling 21% this past week and falling again by 1.29% in the last 24 hours, Kenobi confidently states that his bullish prediction is a “complete and realistic” goal for the meme coin, which, as of writing, it can be sold for 0.00013 $.
The featured image was created with Dall.E, a chart from Tradingview.com