Floki Price Jumps 15% to $0.00013 Amid US Trading, Boosted by EPL Exposure
On Tuesday Floki, the popular meme cryptocurrency, defied broader market uncertainties, surging by 15% to reach $0.00013 during the US trading session. The price spike comes as Floki gains significant visibility through its association with the English Premier League (EPL). But the question remains: can this recovery continue?
Floki Eyes Potential Rally Fueled by EPL Partnership
Floki, known for its playful dog-themed branding, is increasingly blending meme culture with tangible real-world utility. The FLOKI token, along with its play-to-earn game Valhalla, will now be prominently featured across various EPL platforms, thanks to a newly signed one-year agreement.
The EPL, regarded as the pinnacle of English football, features 20 of the country’s top clubs. As part of this strategic partnership, the Floki token is now associated with Nottingham Forest, while its Valhalla game has found a spot on Sunderland AFC’s jersey.
This sponsorship extends beyond team jerseys, with Floki being featured in on-screen advertisements during all league matches. Such exposure is expected to significantly boost the meme coin’s recognition among millions of football fans, potentially driving demand for the token.
Given this heightened visibility, Floki’s price could see a strong rally in the coming months, possibly bringing an end to its 11-week-long price correction.
Floki Coin Poised for Major Breakout
Since June 2024, Floki’s price has been undergoing a consistent correction, forming a falling wedge pattern. This bearish trend has seen the token drop from $0.000349 to $0.000126, marking a substantial 63.7% decline.
However, today’s price action hints at a possible breakout from the wedge’s resistance trendline, suggesting a potential shift in momentum. If the overhead trendline flips into a support level, it could accelerate bullish momentum, signaling the beginning of a trend reversal.
The daily Relative Strength Index (RSI) is also climbing toward the 50% mark, further indicating a resurgence of bullish sentiment. If the breakout is successful, Floki’s price could rally to $0.00021, representing a potential 67% gain.
Conversely, if the 50-and-100-day Exponential Moving Averages (EMAs) form a death cross, it could invalidate the bullish outlook. In that case, a failed breakout could see Floki’s price drop by 20%, testing support at $0.00002.
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