Will Floki Plummet to Zero? FLOKI Price Decreases by 0.8%, Investors Shift Focus to New GambleFi Token, Mega Dice
The price of Floki Inu (FLOKI) is facing pressure as caution replaces weekend optimism in the cryptocurrency market. Instead, investors are now turning their attention to an exciting new GambleFi token called Mega Dice (DICE).
As of now, FLOKI has dropped by nearly 5% for the day and is trading slightly below $0.00018.
The meme coin continues to encounter strong resistance at its 50-day moving average (DMA), indicating that the bulls have not yet regained control. However, chart analysis suggests the potential for a near-term upward push.
Chart analysis reveals that Floki experienced a break in its downtrend from March highs towards the end of April. It then found substantial support at this prior downtrend at the beginning of May, which is a bullish indicator.
Furthermore, the Floki price seems to have been forming an ascending triangle over the past few weeks, a pattern that often precedes bullish breakouts. If FLOKI can break above $0.00020, it could quickly retest the March highs above $0.00030.
Considering the bullish short-term technicals and the strong community support behind Floki, it is unlikely that the coin will plummet to zero anytime soon.
However, it is important to note that FLOKI is still a highly speculative cryptocurrency. Its current market cap of $1.7 billion suggests that while there is room for upside potential, any gains will be hard-fought.
Meme coins like Floki lack clear utility, making them susceptible to rapid declines when pessimism sets in. This may be why Floki investors are now turning their attention to Mega Dice, a new GambleFi token with multiple utility features.
For investors seeking greater upside potential than Floki, presale investing is worth considering. Many Web3 projects and protocols offer their native tokens at discounted prices to early investors in order to raise funds for development. If these investors choose a promising project that gains traction in the market, they can potentially earn exponential gains.
One project that Cryptonews analysts highly recommend is Mega Dice Casino. This well-established crypto casino has recently launched a presale of its utility token, DICE. DICE holders enjoy significant cashback benefits on their wagers and can generate passive income through DICE staking.
Additionally, Mega Dice is running a $750,000 airdrop to reward early presale investors. The project has already raised $700,000, so potential investors are encouraged to act quickly before the DICE price increases upon reaching the $1 million milestone.
Mega Dice Casino also offers a referral scheme for interested individuals.
To explore Mega Dice Casino’s presale, visit their website.
Please note that cryptocurrency investments are high-risk and this article is for informational purposes only. It does not constitute investment advice, and there is a risk of losing all invested capital.