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A crypto strategist who has earned the “Master Trader” rank on the digital asset exchange Bybit thinks that it is almost time for memecoins to shine. Pseudonymous analyst Bluntz tells his 315,000 followers on the social media platform X that meme token Floki (FLOKI) is printing a bullish divergence signal on the daily chart. A bullish divergence is traditionally seen as a bullish reversal signal as it suggests that an asset is gaining momentum even if the price drops lower or moves sideways. Says Bluntz, “There is monster FLOKI bullish divergence printing here after it swept a MAJOR level, could print today or tomorrow. Love it or hate it, the meme meta is probably staging a comeback here.”  Source: Bluntz/X At time of writing, FLOKI is trading at $0.000098. Looking at fellow memecoin Dogecoin (DOGE), Bluntz believes that the crypto asset has completed an ABC corrective wave against the US dollar and Bitcoin (DOGE/BTC). Bluntz mostly ...

A dog-themed meme asset that rivals Dogecoin (DOGE) and Shiba Inu (SHIB) is flourishing after gaining support from top US-based crypto exchange platform Coinbase. In a new thread on the social media platform X, Coinbase says it’s adding support for Floki (FLOKI), a memecoin launched in 2021 inspired by billionaire Elon Musk’s pet dog. “Coinbase will add support for FLOKI (FLOKI) on the Ethereum network (ERC-20 token)… Trading will begin on or after 9AM [Pacific time] on 21 November 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our FLOKI-USD trading pair will launch in phases. Support for FLOKI may be restricted in some supported jurisdictions.” News of the addition sent FLOKI flying, as the token went from a price of $0.000234 to a peak of $0.000283 on November 20th. The digital asset has since stabilized and is trading for $0.000256 at time of writing, a 10.3% increase during t...

The Floki price has surged 6% in the last 24 hours to trade at $0.0001529 as of 3:25 a.m. EST on a 17%  drop in trading volume to $228 million. Floki Price Breaks Out Of Consolidation- Can The Bulls Sustain The Momentum? The chart for the FLOKI/USD trading pair in a 4-hour timeframe exhibits several bullish signals. A significant pattern on the chart is the round bottom formation, which typically indicates a bullish reversal, suggesting that the price may have bottomed out and is trending upwards. Following this, the price action has moved into an ascending channel, characterized by higher highs and higher lows, further reinforcing the bullish sentiment. The price is currently trading within this channel, with the lower boundary acting as support and the upper boundary as a potential resistance, where traders might consider taking profits. FLOKIUSD Analysis Source: Dextools.io The moving averages provide additional confirmation of the bullish trend. The 50-period MA...