Key Takeaways:
- FLOKI is showing signs of a potential breakout within the next two weeks.
- The Commodity Futures Trading Commission (CFTC) recognizes FLOKI as a utility token alongside ETH and AVAX.
- Floki’s ecosystem and Valhalla blockchain game are gaining traction ahead of their 2025 launch.
FLOKI, the mid-cap meme coin, is quickly approaching a critical phase, according to recent insights shared by market strategist Master Kenobi. The repetitive structure of FLOKI’s market cycles is on track for its third consecutive cycle, with a pump typically lasting 35 days.
As of now, the cryptocurrency is positioned within the crucial zone, marked by the red arrows on the chart. Based on historical data, the breakout could occur in just two weeks, possibly by early January 2025.
So far, it has followed the pattern depicted by the yellow rectangles of the chart, which tends to mark the beginning of what could be a massive pump. The theory says that the price should surge about 10-11X from the base and drive the cryptocurrency to new highs, as in previous cycles.
While using a 140-day scenario provides an even longer-term view of the breakout stretching into February, the immediate short-term trend is compelling.
A Strategic Investment Opportunity
Besides technical analysis, the main trump card here is timing. The strategic movement of the analyst is from Bitcoin through some other tokens like DOGE, BNB, to finally FLOKI. That could be a seriously big transition, yielding as high as 1260X returns if played correctly. Moreover, low- to mid-cap gems like CAT, TokenFi, NEXO, and probably $MONKY yield an even greater multiplier.
Floki’s Rising Profile with CFTC Recognition
But beyond price moves, FLOKI has also been attracting more regulators’ attention. In the latest meeting that took place, the Commodity Futures Trading Commission, probably the most influential regulatory body in the US, highlighted FLOKI as a case study- a utility token.
That places the cryptocurrency in the same conversation with other major assets, including Ethereum’s ETH and Avalanche’s AVAX, as it slowly but surely turns into a key player within the crypto ecosystem. In its case, the core utilities of the cryptocurrency and the wider ecosystem that includes the coming Valhalla blockchain game were put in focus.
The new game, expected to be launched at the beginning of 2025, can further fuel the cryptocurrency’s adoption. Nevertheless, recognition from the CFTC testifies to the increased legitimacy of the token and the reason it can become very prominent in the space.
Related Reading | BlockDAG: Redefining Blockchain Efficiency with its Hybrid Consensus and Mining Tools