The Floki price has been looking up lately, as the daily timeframe chart reveals a bullish pattern. The meme coin has been out of the limelight lately following Popcat (POPCAT) and Neiro (NEIRO)’s rise to fame. However, the team plans to re-establish Floki as a popular crypto project through a new marketing strategy. Will the revamped marketing help Floki catch up on October gains?
Could Floki Price Surge as Marketing Efforts Align with a Bullish Setup?
According to the official Floki X account, the team will have a marketing announcement on September 24 at 4:00 p.m. UTC on the X Spaces
Dear Vikings,#Floki will have a marketing announcement on Tuesday, September 24, at 4PM (UTC).
Venue: $FLOKI X Spaces.
Set your reminder to make sure you don’t miss it 👇
https://t.co/Q8Weo8u0CT— FLOKI (@RealFlokiInu) September 19, 2024
Floki Inu has been one of the most vocal projects in the crypto space, and the team has made great strides to make the project known worldwide. Their efforts show that good marketing is key in pushing a project to heights.
In May, Floki’s marketing director, Sabre, revealed that the project was gearing up to launch its largest marking campaigns in over two years.
Shout out to those with longer term memories that know what to expect from #Floki and our ™ moves.
With the experience and knowledge to navigate the toughest challenges, we are gearing up to announce our biggest marketing activations in over 2 years across the coming months📍 pic.twitter.com/UOo4awAD8o
— Sabre (@SabreEthereum) May 27, 2024
According to Sabre, this stunt will help Floki dominate the meme coin space, achieving its goal of becoming the “most known and most used cryptocurrency in the world.”
Floki conducted another fairly large marketing stunt on March 15 at New York’s Times Square, where the brand was displayed on the Nasdaq billboard screens for two months. However, this comes as a whale dumped his entire Floki and PEPE holdings.
The price of Floki has increased by 0.9% and is trading at $0.00013. This announcement couldn’t have come at a better time, as the crypto asset price chart shows potential for a bullish reversal rally to $0.00021.
FLOKI Technical Analysis Reveals Path to $0.00021
Since May, the Floki price has been moving inside a downward-sloping channel. However, recent price action shows a potential breakout attempt. A bullish double-bottom pattern is visible, which indicates a potential reversal from the downtrend. The price is currently testing the neckline of this pattern around $0.00014.
Key Support and Resistance Levels
- $0.00012 – This is the key support, corresponding to the channel’s bottom and the recent double bottom pattern.
- $0.00014 – The immediate resistance corresponding to the neckline of the double bottom.
- $0.00022 – This is the next major resistance upon a successful breakout above $0.00014, comprising a 62% increase from the current price.
If the Floki price drops to the $0.0001200–$0.00013 region, it would mark a good entry zone. However, if the price falls below this level, it may signal market weakness and invalidate the current bullish thesis. Floki Inu may seek lower support around the bottom of the channel near $0.00008.
Frequently Asked Questions (FAQs)
Floki price has shown an upward trend due to a bullish pattern identified in technical analysis, coupled with an upcoming marketing announcement aimed at revitalizing interest in the project.
The Floki team has announced a major marketing campaign scheduled for September 24, 2024. This campaign is intended to re-establish Floki’s presence in the cryptocurrency market, aiming to make it the “most known and most used cryptocurrency in the world.”
Investors should be cautious, as a drop below the key support level of $0.00012 could indicate market weakness and invalidate the current bullish outlook. If this occurs, the price may seek lower support around $0.00008.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/can-floki-price-stage-a-60-comeback-as-team-revamps-marketing-efforts/
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