Is FLOKI Inu the next cryptocurrency phenomenon? Here’s what you need to know after its 60% rise

You may be wondering what is behind this positive market activity and how likely this positive price trend is to continue. We’ll try to answer these and other questions in this article.

What’s behind the rising price of Floki Inu? The latest news on Floki Inu

There are several reasons why the price of Floki Inu is on the move. Here we will detail the major events and developments that have seen Floki rise over 3.5x year-to-date and have investors wondering if it can become the next meme currency to follow in the footsteps of Shiba Inu and Dogecoin.

Floki launches campaign to attract Chinese crypto-currency users

Last week, the Floki team announced that it would launch a Chinese version of the game Valhalla later this year. Valhalla is an NFT-powered metaverse where players can explore, fight, collect items and interact with other players. The platform is powered by the FLOKI token and builds on the success of other popular NFT metaverse projects.

#FLOKI LAUNCHES CAMPAIGN TO ONBOARD MILLIONS OF CHINESE CRYPTO USERS

– We will launch a Chinese version of our game #Valhalla.
– We have partnered with China’s biggest #crypto social media platform for a 3 months marketing campaign.

Full details 👇👇https://t.co/friQ5Vx5x8 pic.twitter.com/NI4Ebn6Ldf

FLOKI (@RealFlokiInu) February 7, 2023

The Floki team believes that the strong economic growth expected in China in 2023 will result in increased crypto adoption, which in turn could help Floki grow its user base. The team is banking on the high number of gamers in China and the country&squor;s growing gaming sector.

As part of its marketing campaign in China, Floki has entered into an agreement with local social media platform Btok, which will see Floki’s advertisements prominently displayed on the Btok platform for 3 months. In addition, Floki will organize an exclusive crypto-currency drop campaign, according to Floki’s official website. post:

“We will be running a Floki drop campaign with Btok for a period of 3 months. This will introduce Floki to millions of Chinese users who wouldn&t have discovered it otherwise.”

The campaign started on February 13, 2023, and will run for 3 months. The price of FLOKI has increased by more than +75% since the beginning of the campaign.

FLOKI listing on KuCoin

Another important reason why FLOKI has gained popularity is, without a doubt, the upcoming listing on the crypto-currency exchange KuCoin.

According to the official website the trading of FLOKI/USDT and FLOKI/USDC trading pairs will begin on February 17, and withdrawals will go live the next day, February 18.

The listing will introduce FLOKI to millions of potential new investors, which could be a very positive sign for the near-term future of the meme currency project.

Trending on Twitter

Earlier today, Floki’s team posted a tweet indicating that the project was trending on Twitter. Interestingly, before that, Twitter CEO and second richest person in the world Elon Musk posted a photo of a dog posing as a Twitter CEO, saying, “Twitter’s new CEO is amazing.” Floki’s team took the opportunity to tag Musk in hopes of reaching new users.

The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH

— Elon Musk (@elonmusk) February 15, 2023

It seems that Musk’s latest tweets have triggered bullish activity among various meme currencies, including Siba Inu and Dogecoin, which have gained around +8% and +5%, respectively. However, Floki was by far the biggest winner with its +60% rise.

This is not the first time Musk has sparked a rally among meme currencies, as his “doge” memes have repeatedly led to bullish spikes, particularly in the price of Dogecoin.

The Floki Inu team has tried to capitalize on the craze and is using its trending status to highlight the usefulness of FLOKI. Here is what they wrote:

“Floki is getting a lot of attention lately, and we are currently trending on Twitter as one of the hottest crypto-currencies.

We think it’s important to highlight $FLOKI’s usefulness and fundamentals to new users who are just discovering us!”

They directed users to a Twitter page discussion thread documenting the various features and utilities provided by Floki.

#Floki is getting a lot of #crypto media attention today!

We feel it is important to highlight our fundamentals for new users:

Firstly, Floki is a #DAO and the Floki DAO determines Floki’s future by voting with their $FLOKI tokens.

Our latest vote is a very pivotal one: https://t.co/DIeh6ABOwf pic.twitter.com/2X8F2QeaJl

FLOKI (@RealFlokiInu) January 27, 2023

Floki Inu price prediction: +500% by the end of 2023?

According to Floki’s price prediction, the meme currency could see a substantial upward movement in the coming months. Specifically, our algorithm predicts that Floki will increase by +566% from its current value of $0.00003630 to $0.000243 by October 15.

The prediction is based on the status of technical indicators as of mid-February, with 25 technical analysis indicators signaling bullish signals, and 1 signaling bearish signals. Keep in mind that future price movements could differ significantly from our predictions, especially if the market situation undergoes unexpected changes.

Yet Floki seems to have a much better chance of reaching 1 cent, or even 1 dollar, than, for example, Shiba Inu, which has virtually no chance of ever reaching 1 cent.

The bottom line: Floki Inu could be the next meme currency to follow in the footsteps of Shiba Inu.

Thanks to its recent market success, Floki Inu could follow in the footsteps of Shiba Inu, a meme currency that made one of the most impressive market recoveries in 2021, but has since calmed down a bit.

One reason Floki Inu could be the next meme currency to explode is its considerable push into the Chinese market. Secondly, Floki has a robust community of over 400,000 followers on Twitter promoting the project on social media, which is an important indicator of a project’s potential success.

Keep in mind that investing in crypto-currencies, especially meme currencies, can be very risky. If you are looking for a more stable investment, we suggest you check out our selection of the best cryptos to buy in February 2023.