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This year has been a tough sail for Floki since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of FLOKI.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Floki to reclaim its all-time high in 2023? Continue with the article to learn about Floki price analysis and prediction by Coinpaper.
Read also: Ripple attorney warns Elon Musk his Doge pump tweets may get him in trouble
What is Floki?
Floki (FLOKI) is another dog-themed meme coin that was inspired by and named after Elon Musk’s Shiba Inu puppy, Floki, who in turn was named after a Viking character. In terms of ecosystem, Floki is a spin-off of Shiba Inu (SHIB), as it has four flagship projects, namely an NFT gaming metaverse Valhalla, a suite of decentralized finance products FlokiFi, an NFT and merchandise marketplace FlokiPlaces, and an education platform called University of Floki. In honor of Elon Musk’s doggo, Floki community calls itself “Floki Vikings.”
Floki (FLOKI) price
Currently, Floki Price is USD. FLOKI has a circulating supply of coins and a total supply of . If you are looking to buy or sell Floki, Uniswap is currently the most active exchange.
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Floki price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Floki 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Floki price at $0.00001206 to $0.00002890. On the flip side, a fading interest in the new meme coin may push the price of Floki to $0.00000816-$0.00000658 lows.
Floki price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Floki (FLOKI) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Floki to climb as high as $0.00003025, with the more distant prospect of reaching $0.00005473 in 2024. The bearish scenario is likely to see Floki (FLOKI) trading between $0.00002198 and $0.00001534 in 2024.
Floki price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Floki (FLOKI) price analysis and prediction is based on pure speculation and observation of Floki historical price movements.
Our Floki 2025 price forecast expects FLOKI to rally towards $0.00008793 and reach $0.0001114 by the end of the year. The bearish scenario would see Floki at $0.00006325 to $0.00004981.
Floki (FLOKI) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Floki is neutral. In 2026, we expect Floki to reach at least $0.0001662 before climbing higher to $0.0002101. In case of a bearish scenario, Floki may fall to $0.0001173.
Is Floki (FLOKI) a good investment?
Whether FLOKI token is a reasonable investment for you depends on your risk profile and how much you intend to invest. As a part of the Floki meme token ecosystem, this coin is extremely volatile, which makes it a very risky investment — its profit potential is huge, but so is the potential downfall. Still, it can be a nice addition to your cryptocurrency portfolio if you believe in the potential of meme coins.
Bottom line
Are you ready to invest in Floki? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy FLOKI from many crypto exchanges, including Uniswap
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Floki?
Floki Inu was initially created by an anonymous developer who abandoned the project shortly after it launched.
What was the all-time high for Floki (FLOKI) ?
The all-time high price of Floki is $ on 2021-11-04
