Sign Up on MEXCWill FLOKI Price Rally to $0.0002 Amid Major Premier League Partnerships?
Highlights
- FLOKI price jumps 8% to breach major resistance of 11 weeks correction
- Floki has struck major deals with English Premier League teams, boosting its brand visibility in the sports world.
- A reversal within the wedge pattern may delay the recovery trend and drive a 22% fall.
Floki price surged 15% to $0.00013 during the U.S. trading session on Tuesday. Bucking the broader market uncertainty, this meme cryptocurrency witnessed a notable inflow amid the visibility in the English Premier League. Will the recovery be sustained?
Floki Price Eyes Rally with EPL Exposure
Floki, the dog-themed meme coin, blends playful meme culture with growing real-world utility. As part of a new one-year agreement, the FLOKI token and its play-to-earn Valhalla game will be prominently featured across various English Premier League (EPL) platforms.
The Premier League is the highest level of the English football league system, contested by 20 clubs. The Floki token is in partnership with Nottingham Forest, while their Valhalla game is printed on the Sunderland AFC jersey.
At #Floki we don’t just talk.
This is only the beginning…
To #Valhalla 📯 https://t.co/kvivsZSUx3 pic.twitter.com/6AMmbQwm9C
— Sabre (@SabreEthereum) August 9, 2024
This sponsorship also includes Floki being featured as an on-screen ad throughout all league games. This will allow the meme cryptocurrency to gain massive exposure and recognition thrice from millions of football fans. Such advertisements often provide brand awareness and drive demand for the associated cryptocurrency.
Therefore, the Floki price could gain significant momentum in the coming months, bolstering buyers to end its 11-week correction.
Floki Coin Signals Major Breakout
The Floki price has witnessed a steady correction since June 2024 amid the formation of a falling wedge pattern. The bearish turnaround has tumbled the asset from $0.000349 to $0.000126, registering a loss of 63.7%
However, the FLOKI price is up today, and a breakout from the resistance trendline of the wedge pattern is teased. This flip of the overhead trendline into potential support will accelerate the bullish momentum and project the initiated signal of a trend reversal.
The daily Relative Strength Index (RSI) slope climbing towards the 50% line accentuates the bullish sentiment returning to this asset. The post-breakout rally could chase a $0.00021 high, registering a potential gain of 67%.
On the other hand, a death crossover from the 50-and-100-day Exponential Moving Average could overturn the bullish thesis. If the breakout fails, the Floki price will fall 20% to test $0.00002 support.
Frequently Asked Questions (FAQs)
1. What is the current technical outlook for Floki Coin?
2. How is the Premier League sponsorship expected to impact Floki?
3. What could happen if Floki fails to break out of the wedge pattern?
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