FLOKI continues its month-long rally as one of the best-performing cryptocurrencies. In the past week, FLOKI has gained 110%, and today, it sustains that momentum with gains of 5%.
Investors seem drawn to FLOKI because it is more than a meme coin. While most meme coins only leverage hype to grow, FLOKI offers more. Within the FLOKI ecosystem is an NFT marketplace, a DeFi platform, and even a learning platform to help onboard new investors to FLOKI and crypto. The positive impact of this ecosystem is evident in the fact that FLOKI has more than $600 million in it, and these figures are on the rise.
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Binance Moves $89 Million Of FLOKI To Cold Storage
FLOKI’s strong fundamentals and its growth potential have not escaped the eye of the big players in the market. Today, one of the big news stories about FLOKI is that Binance has moved more than $89 million worth of FLOKI tokens into cold storage. That’s 320 billion FLOKI that are now not actively trading in the market.
#Binance moves a colossal 323.207b $FLOKI worth $89.76M to a cold wallet. The giants are securing assets what do they know that we don’t ? $FLOKI is the main #memecoin in this bullrun ⚔️🔥 pic.twitter.com/E8jmzfrFcc
— Floki ₿es🧙🏼♂️🟧 | ₿es Capital (@Besbtc) March 14, 2024
This is a big deal because it shows that Binance believes FLOKI could be headed much higher, which means there is still room for growth even for investors buying now. The move by Binance also comes barely two weeks after the FLOKI developer team burned more than one trillion FLOKI tokens.
The constant here is that the amount of FLOKI tokens available for trading is getting smaller over time. This comes at a time when demand is on the rise, paving the way for FLOKI to keep heading higher.
FLOKI Tests $3 Billion Market Cap
There is also growing optimism around FLOKI because it has now crossed a key metric in its market capitalization. Today, the market capitalization of FLOKI briefly crossed $3 billion, a level that most investors did not expect it to reach, and considered it a sought of unbreakable resistance. However, this has been breached, and while FLOKI has briefly corrected, FLOKI is rallying back towards it.
The fact that FLOKI has managed to breach the $3 billion market cap has created a new level of optimism, as investors expect even higher market caps. Some market analysts are projecting that FLOKI could hit a market capitalization of $20 billion or more by the time the current bull market peaks.
$FLOKI just crossed $3 billion market cap #FLOKI $FLOKI 🔥 🔥 🔥 💪💪💪🚀🚀🚀 pic.twitter.com/lQKIoLS6y3
— thoufique (@CryptoL50958739) March 14, 2024
Also, with FLOKI consistently standing out in gains, new investors looking into meme coins will likely choose it first. This is already evident in the rising FLOKI trading volumes, which are up by double digits daily. This, coupled with the fact that FLOKI consistently makes it to the list of top trending cryptocurrencies, means more people are noticing it and buying. This rising demand for a deflationary cryptocurrency like FLOKI makes it a high-potential cryptocurrency to buy today and hold through this bull cycle.
Besides the fundamentals and the hype, investors also love FLOKI for its accessibility. Investors can buy FLOKI on top crypto exchanges such as Binance, Gate.io and KuCoin. Investors can trade FLOKI on top cryptocurrency exchanges like Uniswap and Pancake V2.
In the section below, we do a FLOKI to determine how it could trade going forward. Will FLOKI continue its recent parabolic price run, or is it up for a correction?
FLOKI Price Prediction – Can The Bullish Momentum Continue?
FLOKI (FLOKI) is currently trading at $0.000275, up by 2% in the day. Trading volumes are up by 27% to hit $1.24 billion.
FLOKI has been trading in a bullish channel for more than a week while making higher lows. This indicates that bulls are firmly in control and that every dip is being bought.
Today is no different, and FLOKI has successfully bounced off a dip to $0.00026107. It indicates that buyers are coming in strongly and buying up every attempt at a selloff. If, in the day, FLOKI pushes through the $0.000314 resistance, it could be well on its way to killing a zero in the week.
With positive news, such as Binance’s decision to move hundreds of billions of FLOKI to cold storage, such a breakout looks highly probable.
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