Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Dogecoin and Floki Set for 'Mega Pump'? Analysts Identifies Key Resistance Levels

Published 13/11/2023, 11:34
© Reuters. Dogecoin and Floki Set for 'Mega Pump'? Analysts Identifies Key Resistance Levels
DOGE/USD
-
FIO/USD
-

Benzinga - Meme coins like Dogecoin (CRYPTO: DOGE) and FLOKI (CRYPTO: FLOKI) are drawing significant attention from market analysts who anticipate a strong rally for these meme coins.

What Happened: Crypto Tony, a pseudonymous crypto analyst, has projected a ‘mega pump’ for both DOGE and FLOKI, citing technical patterns that suggest a substantial increase in their prices.

At the time of reporting, FLOKI was trading at $0.00003082, while DOGE was valued at $0.077.

Crypto Tony’s analysis points to FLOKI climbing to a resistance level of $0.000035 and DOGE potentially reaching up to $0.085, after which the analyst sees the meme coins going on a rallying spree.

A resistance level in crypto refers to a price point that an asset struggles to surpass due to strong selling pressure. It’s essentially the upper limit that traders believe the asset will have difficulty exceeding.

"Just the beginning for our memecoins . The party is about to begin," the analyst tweeted.

Crypto Rover, another analyst who has observed a breakout in DOGE’s price, is setting his sights on a $0.082 target.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event in NYC on November 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away – secure early bird discounted tickets now!

Why It Matters: Another pseudonymous analyst, Rekt Capital, joins a chorus of bullish predictions confirming these resistance levels.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.