Crypto Master Kenobi analyst gave an update on his FLOKI master plan. The analyst pointed out that his initial analysis was not valid and said what is next for the Shiba Inu competitor with this development.
FLOKI Master Plan Doesn’t Work But Could Be A Good Thing
Master Kenobi revealed in the X post that FLOKI Master Plan it looks like it’s not valid. However, he believes this is actually more good news than bad for the Shiba Inu competitor. He went on to explain why this is a good thing for the meme coin, giving reasons why FLOKI will succeed in this market cycle.
First, the analyst noted that the crypto world has already evolved beyond DeFi, NFT, Gaming, and Metaverse issues and is now focused on memes. In line with this, he suggested that meme coins will be the main issue this bull is running. He added that crypto projects seem more reliable when they are simple and include humor, which is why he is betting on memes, including FLOKI, to succeed in this market cycle.
Master Kenobi then stated that FLOKI caught his attention for several important features. He referred to the fact that the meme coin is the best meme The BNB Ecosystem while noting that BNB is the only blockchain infrastructure that is “really emerging.”
Characteristics of Eye-Catching Meme Characters
The first feature identified by the analyst is FLOKI’s recurring chart pattern. The second Master Kenobi mentioned is Shiba Inu competitor looks to be one of the strongest meme coins on the Binance chain, if not the strongest. He mentioned the meme craze in Solana and how it helps boost its ecosystem.
The analyst believes that the same thing will play out in the BNB chain. He noted that BNB cannot afford to lose its position in SOL in terms of the market rate. He added that BNB is well positioned to maintain its position over SOl from then on Binance It remains the leading central exchange (CEX).
However, Master Kenobi noted that BNB will also need a flagship meme, which is where FLOKI comes in. He believes that Binance has seen the need for a flagship meme coin, which is why it supports several meme projects, including FLOKI.
Related Reading: Shiba Inu Price Movements: Here’s How Many Holders Are Now Profitable/Losing After That Sharp Drop
With a dedicated team, a ready-to-launch game, and a market cap of $1.25 billion combined with Binance’s support, the analyst noted that the Shiba Inu competition has all the “ingredients” to be the start of the next bull market.
Like his former part FLOKI Master PlanMaster Kenobi had predicted that the meme coin would probably enjoy a devaluation on October 21. He said that another reason why that might not happen could be because of the imminent bull market, where “great volatility and unpredictability are preferred.” The analyst also predicted that the FLOKI price explosion may occur in the middle of December, as well as the explosion of Dogecoin and altcoins.
The featured image was created with Dall.E, a chart from Tradingview.com
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