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The FLOKI price has jumped by 47% over the last day to trade at $0.0001204 as of 2:30 a.m.
FLOKI’s pump comes after a recent proposal to burn 2% of the token’s supply was passed by its community. The burn is expected to take place within the next week.
IT’S OFFICIAL: FLOKI DAO PASSES VOTE TO BURN 190,918,585,431.84 FLOKI TOKENS
The #Floki DAO has voted in favor of burning 190,918,585,431.84 $FLOKI tokens. At the current market value, this is worth over $24 MILLION.
In line with the decision of the Floki DAO, the tokens will… pic.twitter.com/uGu0XFU5p9
— FLOKI (@RealFlokiInu) March 2, 2024
FLOKI Price Prediction: Corrections Loom Ahead of Massive Pump
FLOKI has seen a massive uptrend in the past few days as indicated by the higher highs and higher lows in the FLOKI price action. However, there’s a recent sharp drop in the FLOKI price, indicating strong selling pressure or a possible reversal of the trend.
The FLOKI price has been trading above the longer period 20 Simple Moving Average (SMA), confirming the previous bullish trend. However, the price has headed toward a crossover below the 20-period SMA, confirming a short-term bearish signal. Additionally, the FLOKI price had recently exited the upper band, suggesting that the asset was overbought.
The Relative Strength Index (RSI) is around 64.3, which has come down from an overbought condition. The drop in RSI value reflects bear sentiment accumulating in the markets. On the flip side, the most recent candles before the drop formed a consolidation pattern with prices moving sideways, indicating indecision in the market.
2-hour FLOKI chart | Source: TradingView
FLOKI Price Prediction: FLOKI’s TVL Growing Fast; A Long-term Bull-Signal?
Even though the meme coin’s recent market behavior suggests the likeliness of a pullback on the FLOKI price, the surge in Total Value Locked (TVL) on FLOKI likely suggests a bullish long-term. On February 27th, FLOKI’s TVL hit an ATH of $105 million, representing 25% of the total $FLOKI supply.
#FLOKI JUST HIT A STAKING TVL ATH OF $105 MILLION
That’s 25% of the total $FLOKI supply, worth $105,313,899, locked and staked for up to 4 years.
This makes Floki the ONLY major “memecoin” (from $DOGE, $SHIB, $BONK, $PEPE, and FLOKI) with such a huge portion of its supply… pic.twitter.com/p7xhvcJG3x
— FLOKI (@RealFlokiInu) February 26, 2024
With the short-term trajectory of the FLOKI price indicating a possible correction, new meme coin SMOG, also up around 50% in the past 24 hours, is looking like a great alternative for investors ahead of what the team says will be the greatest airdrop in history.
A Worthy Alternative
When SMOG first appeared in early February, it immediately saw a gain of more than 3,000%, and it now has 40,000 holders.
A staggering 1.4 billion tokens, or 35% of the total supply, have been set aside by the Smog team for the airdrop that it says will be “the greatest in history.”
The easiest way to participate is to acquire and hold SMOG tokens. Investors may also sign up for Zealy’s social groups on Smog and gain points by doing quests to qualify for additional airdrop tokens. Already some 800,000 quests have been finished.
In the meantime, some lucky holders of BONK, WIF, MYRO, and SAMO are receiving daily airdrops of $1,500 worth of SMOG tokens.
Join the #SMOG community on #Zealy and increase your points for the $SMOG #Airdrop. 🐲
Complete quests for extra points! 📊
Stay tuned for upcoming announcements. 📢🔗https://t.co/3EQxvQwsw3#CryptoCommunity #Altcoins #Memecoins #Binance #Crypto
— SMOG (@SMOGToken) February 21, 2024
Investors who stake their tokens in the project now get an amazing 42% annual percentage yield (APY). After being added to the staking pool, staked tokens are withdrawable ninety days later. There have now been over 16.4 million tokens staked.
Smog has the potential to soar 100X after launch, according to cryptocurrency analyst and YouTuber CryptoGains, presenting meme coin lovers who might have missed out on the FLOKI price pump with another chance for huge gains.
With rumors of additional imminent listings on major exchanges, now might be a great time to invest before new launch pumps.
And by converting your ETH or USDT, you can get 10% off Smog when you buy it on the official website.
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