Cryptocurrency prices are doing well, helped by Bitcoin, which has jumped to over $57,000 for the first time since 2021. This surge has brought the total market cap of all coins to over $2.14 trillion, according to CMC. A closer look shows that many meme coins like Dogecoin, Floki Inu, and Shiba Inu have bounced back.
Floki Inu price prediction
Floki Inu, one of the oldest meme coins, has done modestly well in the past few weeks. It has jumped in the past seven straight days, soaring to a high of $0.000057, its highest swing since May 5th 2023.
Floki Inu’s price has soared because of its strong fundamentals and the ongoing crypto rally. For example, the Total Value Locked (TVL) in Floki’s ecosystem has crossed $105 million, making it one of the biggest players in the industry. FlokiLocker has over $15.5 million in assets. It also received a $10 million investment from DWF, a leading crypto investor.
Unlike other meme coins, Floki has always focused on creating a good ecosystem to support its utility. This ecosystem is made up of a DeFi platform in addition to an NFT, tokenization, and gaming ecosystems.
Turning to the daily chart, we see that the Floki price has done well, and recently, it crossed the important resistance point at $0.000047, its highest swing in December. It invalidated the double-top pattern, which is a popular bearish sign.
Further, Floki has remained above the 50-day and 200-day moving averages while the MACD and the Percentage Price Oscillator (PPO) have all pointed upwards. Therefore, the outlook for the Floki price is bullish, with the next point to watch being at $0.0000615, which is about 16% above the current level. It was its highest swing in May last year.
Dogecoin price forecast
Dogecoin, like other popular meme coins, has also bounced back in the past few weeks. It has rallied from the YTD low of $0.074 to $0.10, as I predicted recently. The coin has remained above the ascending trendline shown in black. This trendline connects the lowest swings since October last year.
DOGE has now crossed the important resistance point at $0.09, its highest swing on January 20th of this year. Further, it has remained above the 50-day and 25-day Exponential Moving Averages (EMA), which is a bullish sign. The Percentage Price Oscillator has also flipped the neutral point.
Therefore, the outlook of the Dogecoin price is still bullish, with the next point to watch being at $0.1075, its highest point in December. This price is about 12% above the current level. A move above it will confirm the bullish breakout.
Shiba Inu price prediction
Shiba Inu token price has also rebounded lately. In this rebound, the coin flipped the important resistance point at $0.000010, its highest swing on February 14th. Like DOGE, Shiba Inu has remained above the ascending black trendline and moved above the 50-day moving average.
Further, the two lines of the PPO indicator crossed the neutral point last week. Its histograms have been above the zero line since January 30th. The price is also above the Ichimoku Cloud indicator, pointing to more upside.
Therefore, the coin will likely continue rising as buyers target the key resistance level at $0.000012, its highest point in December.
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