Floki (FLOKI) might just be the meme coin poised to capture the spotlight in this bull cycle. A renowned crypto analyst has predicted that Floki could emulate the success of Dogecoin (DOGE) during this bullish phase. This prediction has undoubtedly sparked excitement within the Floki community, especially as the meme coin continues to gain traction despite recent price declines.
Floki to Emerge as “The Dogecoin of This Bull Run”
According to a crypto analyst known as Scofield, the current market downtrend is providing a unique opportunity for investors to purchase and accumulate cryptocurrencies at lower prices. Recently, the market has been dominated by bearish sentiment, leading to significant declines in the values of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Even popular meme coins such as Dogecoin and Shiba Inu (SHIB) have not been immune to the downtrend, witnessing their own share of price drops. Despite this, Scofield views the market downturn as an opportune moment for savvy investors.
Scofield points to Floki, a cryptocurrency inspired by SpaceX CEO Elon Musk’s dog, as a particularly promising investment. The analyst noted that Floki has garnered substantial institutional backing, emerging as a favorite among smart money investors.
Moreover, Scofield highlighted that Floki has outperformed other well-known meme coins like Pepe (PEPE), Dogwifhat (WIF), and SHIB in terms of fundamentals. Consequently, the analyst believes that Floki has the potential to become the Dogecoin of the impending bull run, suggesting significant gains for the Viking-themed meme coin.
This prediction is likely to resonate with many Shiba Inu supporters, as SHIB has often been touted as the “Dogecoin Killer.” However, unlike Shiba Inu, Floki has maintained a positive outlook despite experiencing some recent price declines. Notably, the cryptocurrency saw a significant price surge following the announcement of its charitable initiative to build a school in India.
Additionally, data from CoinMarketCap reveals that Floki’s price has risen by 2.39% in the last 24 hours, and its market capitalization has increased by 1.92%.
Analyst Predicts One More Low Set for Floki
Another crypto analyst, known as Dona on X, has issued a cautionary outlook for Floki, predicting that the meme coin might experience one more dip before a potential price recovery. Earlier on July 8, the analyst forecasted that Floki’s price could drop below $0.0001.
Recently, Dona has reinforced this prediction by presenting a price chart that highlights Floki’s ongoing bearish trend. He forecasts that Floki’s price could fall below $0.000085 in the near term. This pessimistic outlook follows recent price declines that the meme coin has faced over the past few weeks.
CoinMarketCap reports that Floki’s price has plummeted by a staggering 22.84% in the last seven days, currently trading at $0.00012.
While the price continues to fluctuate, the community remains hopeful that Floki will recover and possibly emerge as the next Dogecoin of this bull cycle.
