Floki anticipates a 70% surge with the launch of Europe’s first ETF.

Floki anticipates a 70% surge with the launch of Europe's first ETF.

Caring through sharing !

The cryptocurrency Floki is seeing a modest increase of 2% after briefly surging above $0.000089. This rise comes as the Valour Floki ETP is launched in Europe, marking a significant development for the asset. Currently priced at $0.000086, optimistic investors may set their sights on reaching $0.00015 or higher amidst a typically bullish fourth quarter.

Valour Launches Europe’s First Floki ETP

Valour, a subsidiary of DeFi Technologies, has officially launched the Valour Floki (FLOKI) SEK ETP in September. This exchange-traded product (ETP) is now listed on Sweden’s Spotlight stock market, which includes various digital asset ETPs.

The introduction of the Floki ETP follows Valour’s announcement of several new cryptocurrency ETPs on the Spotlight exchange. These also include products for Pepe, Flare, Virtuals Protocol, Optimism, Story (IP), Immutable, and Quant.

In addition to Floki, Valour has rolled out a cryptocurrency product for The Graph, Theta, IOTA, and Hyperliquid. The launch signifies a major milestone for the project built on the BNB Chain and makes Floki the first non-BNB project from this chain to achieve such an ETP listing in Europe.

This product launch follows Floki’s achievement of becoming the first token compliant with cryptocurrency asset regulations in Europe, following a compliant whitepaper submission to the European Securities and Markets Authority (ESMA) in July. Together, these developments indicate a growing acceptance of Floki within the cryptocurrency market.

See also :   BlackRock set to introduce staking to its Ethereum ETF amid surge in inflows.

A similar increase in engagement is expected after the forthcoming release of Valhalla, a flagship metaverse game.

Floki Price Outlook: Bulls Eye a 70% Increase

As Bitcoin surpasses $120,000 and major altcoins experience upward trends, Floki ascended to peaks of $0.000089. Although this isn’t an unprecedented surge seen with tokens like Zcash, PancakeSwap, and Ether.fi, these gains suggest a potential shift toward a bullish trend for the memecoin.

Currently priced at $0.000086, FLOKI has recorded a 2% increase and a 9% rise over the past week. However, bulls are down 5% over the last month due to a downturn affecting cryptocurrencies in September.

Technical projections indicate a possible accumulation zone near the current price levels.

Floki Price Chart

Though the relative strength index (RSI) stands at 45, suggesting indecision, the moving average convergence divergence (MACD) points to a possible bullish crossover. If this trend continues, a daily RSI reversal could signal a shift in momentum.

Target price levels include $0.00011 and $0.00015, which implies an initial 70% increase in the coming months, largely driven by overall market conditions. Notably, a successful break above $0.00015 could confirm a sustained bullish trend with potential targets extending to $0.00025. The key short-term support level is around $0.000063.

Caring through sharing !

Leave a Comment