Here’s Why Floki Inu (FLOKI) Meme Coin Price Is Pumping

The crypto market has witnessed a surge in the value of Floki Inu (FLOKI), driven by major developments and bullish technical signals. At the time of publication, FLOKI trades at $0.000217 marking an uptick of 13.29% over the past day. Key announcements, such as the listing of $FLOKI on Revolut Business and strategic partnerships, have played a crucial role in this upward trend.

Major Developments Fueling the Surge

Floki Inu achieved a milestone by securing a listing on Revolut Business, Europe’s largest neobank and retail trading app. Revolut boasts over 40 million users across 150 countries, making this listing a key boost for FLOKI’s visibility and accessibility. 

According to @RealFlokiInu, the FLOKI official X account,  this development will accelerate Floki’s vision of becoming the world’s most known and used crypto. This listing simplifies the process for businesses across Europe to acquire FLOKI, potentially leading to increased adoption and trading volume.

Additionally, Floki Inu has enhanced its presence through a partnership with Binance, the world’s largest cryptocurrency exchange. As reported by Captain Altcoin, $FLOKI now features a dedicated page on Binance Pay. 

This platform enables merchants to accept crypto payments seamlessly, which is expected to boost $FLOKI’s adoption among retailers. The streamlined integration and acceptance of $FLOKI payments in stores mark a significant step towards mainstream acceptance.

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Technical Analysis Highlights Bullish Trends

Crypto analyst CryptoJack in his tweet post has highlighted a bullish breakout for FLOKI. His chart analysis on a 1-day timeframe reveals a descending triangle pattern. This pattern’s breakout, confirmed by a green candle, indicates strong buying pressure. CryptoJack chart shows the critical breakout point around $0.00018500, with the trading price at $0.00020374.

The next resistance level, marked by a red horizontal line at $0.00026000, is critical. This level has historically acted as support and could either halt the bullish move or if broken, lead to a price surge. 

Future Price Trends and Momentum

If the bullish momentum continues, FLOKI could rise towards and potentially break the resistance at $0.00026000. Sustaining above this level could set new targets around $0.00030000 and beyond. Conversely, a rejection at the resistance might result in a price retracement back to the breakout point around $0.00018500. Failing to hold this level could lead to a retest of the lower trendline support around $0.00014000.

As previously reported on Captain Altcoin, analyst Captain Faibik noted that $FLOKI has broken out of a bullish pennant formation on the daily timeframe chart. This technical breakout suggests a potential midterm rally, with the possibility of a 180-200% price increase.

Read also: PEPE Smart Money Investor Dumps Holding, but the Meme Coin Has More Upside Potential: Here’s Why

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Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.