Floki seems to have made another recovery as the asset has surged over 85% within the last thirty days. Memecoin’s daily chart is up 5.9% and the 14-day chart 39.9%. according to CoinGecko data. The coin has dropped 26.3% in comparison to the year before, despite the amazing upturn.
What’s Behind Floki’s 85% rally? When will it hit $0.0002?
FLOKI’s rally came amid a market-wide surge. Over the past two weeks, Bitcoin (BTC), BNB and XRP have all reached new highs. The cryptocurrency market had one of the biggest rallies it has seen in recent history earlier this month. Markets have seen a slight pullback in the past few days but have since recovered. It is likely that the rally in early February was due to US crypto legislation and increased flows into ETF products based on cryptocurrency.
FLOKI’s rally brought it back into the top 100 projects by market cap. After a recent price drop, the memecoin dropped out of the list. FLOKI has still fallen 61.6% since its high-water mark of $0.0003449. It peaked in June of 2024. That was a little over a year ago.
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According to CoinCodex’s analysisFLOKI’s price could rise over the coming month. Platform predicts that the asset will hit $0.0002 on September 17. A price increase of 50% is expected if the asset reaches $0.0002 on September 17.
It is possible that FLOKI could face a correction in the next few days. Next week, we may experience increased volatility. Investors may look for clues on the Federal Reserve’s monetary policy. Federal Open Market Committee meeting (FOMC), scheduled for 29 July. The market participants are likely to wait until the minutes of the meeting before making any positions.
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Source: watcher.guru
