Floki Inu's FLOKI/USD recent price drop provides a buying opportunity for traders supported by its strong fundamentals and institutional backing.
What Happened: Crypto Scofield noted that the current market dip is enabling smart investors with an opportunity to accumulate. While he believes that Floki Inu will be the Dogecoin DOGE/USD of this bull run, he added that it is the "favorite among smart money."
He stated, "It has strong institutional backing and fundamentally outperforms other top meme coins like Pepe PEPE/USD, Dogwifhat WIF/USD, and Shiba Inu SHIB/USD."
Another crypto trader Shelby also voiced a similar opinion, he added that "marketing campaigns and robust product adoption, such as the Floki Trading Bot" strengthen Floki Inu fundamentals.
Crypto trader ProfessorAstrones advice not to miss the local bottom on Floki chart.
Why It Matters: TokenFi, part of the Floki Inu ecosystem, is developing an AI Smart Contract auditor which will enable issuers to perform instant audits of tokens created on its platform.
These reports will offer an extra trust layer by making advanced security practices accessible to users without deep technical knowledge.
Also, Floki's blockchain game Valhalla signed a deal with OG Esports, a competitive gaming leader. This will make Valhalla the official jersey sleeve sponsor and fans will receive exclusive content.
Price Action: In the past 24 hours, FLOKI is trading 2.3% higher offsetting its seven-day losses of 22%.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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