Popular memecoin FLOKI started to rise with its post marking September 17.
Activity in FLOKI, one of the three most popular memecoins. Floki shared a mysterious X indicating September 17th. Following the post, FLOKI increased by more than 10 percent.
FLOKI, which was caught in a downward trend after being listed on Binance, whetted the appetite of investors with the impact of the news that came to the fore. The possibility that something big could happen in FLOKI on September 17 pushed the token price up to $0.00001847.
What price will FLOKI follow until September 17?
FLOKI made a surprise post on the X platform. The post includes a viking figure marking the date September 17.
— FLOKI (@RealFlokiInu) October 12, 2023
The post revealed rumors that the staking system might start in the project. If the staking system is started, the amount of FLOKI in circulation may decrease.
The news impact pushed the price of FLOKI up more than 10 percent. What kind of price movement can be experienced in FLOKI, which broke the downward trend, until September 17?
Previously, FLOKI was on the agenda with DWF Labs two weeks ago. DWF Labs, a market maker company, attracted attention by purchasing a large amount of FLOKI. Days after this move, new news came from FLOKI. The news impact may push the FLOKI price a little higher. However, FLOKI may cause a big decline as the news on September 17 loses its effect.
In the crypto market, news-induced increases usually result in a major decline. A similar price movement can also be seen on the FLOKI side.
If FLOKI continues its rise, it could conquer the $0.00001850 resistance. If it breaks this resistance point, its next target will be $0.00001915. If FLOKI can successfully spend the bull run, it could test the $0.000020 resistance.
In case of a bearish scenario, FLOKI needs to maintain the $0.00001750 support. Failure to maintain this support may pull FLOKI to $0.000017.
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