A crypto analyst is predicting big things for the meme coin Floki.
Analyst’s Bullish Prediction
Bluntz, a popular analyst with over 300,000 followers on X (formerly Twitter), believes FLOKI is poised for a significant price increase, potentially reaching new all-time highs. He’s using the Elliott Wave theory to support his prediction, suggesting that FLOKI has completed a corrective phase and is now ready for a strong upward move. Bluntz even suggests a price near $0.0004 by March, a considerable jump from the current price of around $0.0002.
The Role of the US Dollar Index (DXY)
Bluntz’s prediction isn’t solely based on FLOKI’s chart. He’s also looking at the US Dollar Index (DXY), a key indicator of investor risk appetite. He believes the DXY has peaked and is about to decline, potentially falling below 100. A weakening DXY usually means investors are moving away from the dollar and into riskier assets like cryptocurrencies and stocks. This shift could further fuel FLOKI’s price increase, according to Bluntz. Currently, the DXY is hovering around 108.
Disclaimer: This is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before investing.
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