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Floki (CRYPTO: FLOKI) is trading relatively flat, but traders believe that it is well positioned for an upcoming rally.
What Happened: Crypto trader Jelle noted that the Floki trading bot is seeing more and more usage as Valhalla takes front and center on sports events. He added that the coin is making higher lows, just above key support.
He concluded, "I expect Q4 to be good for crypto as a whole, and FLOKI looks excellently positioned to ride that wave."
Voicing a similar opinion, trader Inmortal sees bullish momentum for all the meme coins especially Floki.
Also Read: Floki Inu ‘DOGE Of This Bull Run’ Drops 23% In Seven Days, ‘Opportunity To Accumulate Once Again’
Why It Matters: Floki reported that its Trading Bot touched $27 million in trading volume and peaked at more than 20,000 users. The community revealed that it is working on improvements and new features to ensure the trading bot will become the top trading bot on the market.
Phoneix Crypto News and Analytics reported the top gaming projects by social activity, listing Floki in second place. It reported 8,200 engaged posts and 1.4 million in interactions.
Floki is up 3.5% on the day and 7.2% on the week, underperforming its rivals Dogecoin (up 15% on the week) and Shiba Inu (up 8% on the week).
What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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Image: Shutterstock
Posted In: $FLOKI
