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Floki Inu Price has leaped 12% in the past 24 hours trading as high as $0.0001921 during the early Asian sessions on Wednesday. The recent surge appears to have been driven by the news of a sponsorship with the league-topping Napoli that will see Floki Inu’s logo appear on its match jersey and stadium.
Floki Inu Enters A Sponsorship Deal With Napoli
The team behind Floki Inu (FLOKI) has entered a partnership with the Italian football giant SSC Napoli. The announcement by S.S.C. Napoli made on November 23 showed a Floki Inu logo portraying a Shiba Inu dog wearing a Viking helmet that will be displayed on the back of Napoli’s jerseys and across LED signs around the team’s home stadium for the remainder of the current season.
Here is SSC Napoli's official tweet about the partnership with #FLOKI.
Go and show them love, Vikings! https://t.co/cSfZxvkUCc
— Floki Inu (@RealFlokiInu) November 23, 2021
The Napoli deal is an addition to Floki team’s list of football clubs it has partnered with which includes the Spanish LaLiga’s Cádiz and the Kerala Blasters from the Indian Super League.
FLOKI is an Ethereum-based token that was launched mid this year, and according to Etherscan, there are around 45,500 FLOKI holders with a fully diluted market capitalization of $1.18 billion.
Floki Inu Price Could Leap To $0.0002359
FLOKI/USD price action has been sideways since November 15 and has formed an asymmetrical triangle on the four-hour chart. Arise above the immediate resistance at $0.00018513 embraced by the 50-period Simple Moving Average (SMA) could see Floki Inu price rise above the resistance line of the triangle.
If this happens, FLOKI could rise further to tag the November 19 range high around $0.0002359, a 38% rise from the current price at $0.000172.
The upward movement of the Movign Average Convergence Divergence (MACD) indicator accentuates this positive outlook. Also note that the MACD sent a call to buy FLOKI yesterday when the MACD line (blue) crossed over the signal line (orange) pointing to a positive market sentiment. Floki Inu’s uptrend will gain more traction once the MACD crosses the zero line into the positive region.
FLOKI/USDT Four-Hour Chart4
On the flipside, negative divergence by the Relative Strength Index (RSI) indicator is an indication that the bears have not given up on pushing the FLOKI price lower. Hence, a drop below the immediate support at $0.000169 could see the meme coin drop below the support line. If this happens, the token could tank towards the November 18 low at $0.00013348.
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