A Potential Dogecoin Rival Could See a Rally, According to Crypto Analyst
A well-known crypto strategist believes that the recent rally of one memecoin indicates that a potential rival to Dogecoin (DOGE) is about to soar. The analyst, known as Inmortal, shared his insights on social media platform X, stating that Floki (FLOKI), a dog-themed crypto asset, is displaying a similar pattern as Pepe (PEPE), which experienced a recent rally.
Inmortal suggests that FLOKI will follow in the footsteps of PEPE, drawing a parallel between the two and predicting a surge in FLOKI’s price. His chart indicates that PEPE may surpass its previous high of around $0.00000175. Likewise, FLOKI is on track to surpass its December high and potentially reach around $0.0000490. Currently, FLOKI is trading at $0.0000512, reflecting an increase of over 18% in the past 24 hours, while PEPE is trading at $0.00000264 with a gain of more than 46% in the last 24 hours.
Furthermore, Inmortal also makes a bold prediction regarding Ethereum (ETH) against Bitcoin (BTC). Based on historical price patterns, he anticipates a significant rally for ETH/BTC. By examining his chart, Inmortal highlights similarities between the current pattern and the one observed in 2020 when ETH/BTC traded within a specific range before rallying to its upper bound. The current upper bound trading range is approximately 0.083 BTC ($4,736). However, at present, ETH/BTC is trading at 0.05689 BTC ($3,243), indicating a decline of more than 2% in the last 24 hours.
🔥 Hot Take: A Potential Rally for Floki and Ethereum
Inmortal’s analysis suggests that Floki and Ethereum may experience significant price increases in the near future. Although memecoins like Dogecoin have gained immense popularity, there is always the possibility of new contenders emerging. If Floki follows the pattern set by PEPE, we may witness a substantial surge in its value. Additionally, Ethereum’s potential rally against Bitcoin presents an intriguing opportunity for traders and investors. By recognizing similar patterns from the past, crypto enthusiasts can make informed decisions regarding their investments.
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