An influential crypto analyst believes that a potential Dogecoin (DOGE) competitor is mirroring the same explosive pattern that BNB demonstrated earlier this year.
Pseudonymous trader Inmortal, with a following of 214,000 on X, suggests that meme token FLOKI could be emulating BNB’s early 2024 trajectory.
The analyst indicates that FLOKI could see a price increase of over 160% in the near future.
“Similar structures.
BNB vs. FLOKI.”
Based on the trader’s analysis, FLOKI is expected to surge to $0.0003. Currently, FLOKI is valued at $0.000114.
Inmortal highlights that FLOKI’s recent partnership with English football club Nottingham Forest is another positive factor for the meme token.
The trader predicts that FLOKI will lead the meme coin market once the crypto market rebounds.
“This is a significant development, and when the market turns bullish again, FLOKI is poised to be the top memecoin.”
Looking at the bigger picture, Inmortal believes that Bitcoin (BTC) is currently consolidating but anticipates a swift reversal. The trader suggests that the prolonged period of sideways movement will be swiftly erased in a short span of time.
“Major consolidations precede major expansions.”
As of now, Bitcoin is trading at $58,978, showing minimal movement over the past week.
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Generated Image: Midjourney
