Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Floki Inu (CRYPTO: FLOKI) witnessed a 75% rally earlier in the day after the meme coins returned riding on the back of a Bitcoin rally. While the token entered a sports partnership, analysts are bullish for the future.
What Happened: Floki announced on its official X account that along with TokenFi it will be the official crypto partner of the World Table Tennis Championship in South Korea. This will not be the first time both the tokens have strategically partnered with sporting events across the world. It had partnered with a table tennis event in Frankfurt and Busan earlier this year.
"Without a doubt, each collaboration has catapulted Floki to new heights of global brand recognition and engagement," the tweet reads.
The event will take place between March 27 and 31 and feature the crypto token in around 580 hours of championship footage, with an expected audience of 450 million viewers.
This move is likely to enhance Floki's presence in South Korea, whose cryptocurrency landscape is evolving.
Also, Floki partnered with the fastest web3 browser, Carbon Browser, yesterday to reach out to more than 7 million DeFi users. This move could make Floki a household name.
Also Read: Floki Inu Strikes Back At ‘Shiba Inu Killer’ Dogwifhat With 70% Surge: Times Square Ad Coming Next
Why It Matters: In the past 24 hours, Floki has surged 8.6% with trading volumes maximizing a significant 150%. With its extraordinary surge today peaking at 75% earlier in the day, the meme coin flipped Dogwifhat in valuation for a brief period.
In the past 24-hour trading volume, Floki with $1.1 billion has crossed Dogwifhat and Bonk with $477 million and $252 million respectively.
Notable crypto trader, Scofield highlighted after the sporting partnership that Floki will be the "main memecoin of this bull run and it is the next DOGE"
Nick, the Cheeky Crypto YouTube channel host, said in a video that Floki is developing the fifth leg of a five-wave pattern in the recent pullback. His next target for the meme coin is $0.0004 (see below).
Crypto Tony in the latest tweet, "Holding up strong, looking for us to consolidate and then continue the run."
The CryptoBull tweeted,
A casual 10x incoming in the next couple of weeks, perhapsThe golden bull is here $FLOKI pic.twitter.com/OW4r8C02Uq
— The CryptoBull (@TheCryptoBull77) March 21, 2024
The fifth-ranked meme coin is fast chasing the fourth position in terms of valuation as it has already raced ahead of Dogwifhat in trading volumes. What's upcoming for the token will be interesting to watch.
Read Next: Could FLOKI Be The Next Dogecoin? Analyst Says ‘Successful Retest’ Of 2 Levels Would Send It To New Highs
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