A particular meme coin is gaining notable attention from a pseudonymous cryptocurrency analyst Inmortal.
What Happened: Inmortal said on X that the dog-themed cryptocurrency, Floki FLOKI/USD, is poised for a significant surge.
According to Inmortal’s analysis, Floki stands out as the memecoin with the potential to eclipse its peers in the ongoing bullish market cycle. “FLOKI is THE memecoin for this bull run. You can try to change my mind, but you won’t succeed,” the analyst said.
The analyst suggests a scenario where Floki could mimic the monstrous rally witnessed by Dogecoin DOGE/USD back in 2021. This expectation is built upon the recent trading pattern of FLOKI, which, much like DOGE’s performance before its spike, has seen an extended period of sideways trading—in this case throughout the year 2023.
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Why It Matters: This comes as the creators of Floki have responded to the concerns highlighted by the Hong Kong Securities and Futures Commission (SFC). The concerns pertained to certain elements of the token staking program proposed by Floki, which were flagged for being possibly hazardous investments.
Taking swift action, the Floki team has rolled out targeted modifications, specifically for the Hong Kong market. Significant changes include distinct cautionary messages placed on the Floki and TokenFi staking websites, which clearly state that residents of Hong Kong are prohibited from participating in these staking opportunities.
The team stressed the measures they have taken, stating, “Clear disclaimers were implemented on Floki and TokenFi staking sites to notify Hong Kong citizens of their ineligibility for participation. Precautions have been taken to actively block Hong Kong residents from participating in these staking programs.”
Price Action: FLOKI was trading at $0.00002797, up 1.37% in the last 24 hours, according to CoinMarketCap.
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Image and article originally from www.benzinga.com. Read the original article here.