By Franklin Smith
Floki Inu saw its price increasing by 12% over the past 24 hours to touch the highs of $0.0001921 during Wednesday’s early sessions. The latest surge seems to come amid the sponsorship news that Napoli, a football club, will have FLOKI’s logo on its stadium and jersey.
FLOKI’s Partnership with Napoli
Floki Inu (FLOKI) has its team entering a sponsorship deal with Napoli, an Italian football club. The announcement by Napoli declared on November had a FLOKI logo with a Shiba dog on a Viking helmet displayed on the team’s jerseys and LED signs at Napoli’s home stadium, the current season reminder.
The Napoli deal adds on Floki Inu’s football club lists. Remember, the meme coin had partnered with Indian Kerala Blasters and Cadiz from Laliga. Floki Inu is an ETH-base coin launched this year. Etherscan reports show FLOKI has nearly 45,500 holders, and the token’s fully diluted market cap stands at $1.18 billion.
Floki Inu Price Might Surge to $0.0002359
FLOKI/USD has printed sideways price actions since 15 November, and the 4hr price chart shows that the meme crypto has created a symmetrical triangle. A surge past the closest resistance level at $0.00018513, embraced by 50 SMA, can witness Floki Inu surging past the triangle’s resistance line.
If such price actions happen, Floki Inu might witness further surges. That way, the token can tag 19 November range high near $0.0002359. That would mean a 38% upswing from FLOKI’s current price of $0.000172.
The upside move by the Moving Average Convergence Divergence indicator emphasizes this optimistic price outlook. Moreover, the MACD presented FLOKI’s buy opportunity yesterday after crossing above the signal line, showing positive sentiment in the market. Meanwhile, the canine-themed token upsurge will see increased traction when the MACD enters the positive territory.
FLOKI/USDT 4Hr Chart
However, the Relative Strength Index had a negative divergence, indicating that bears remain determined to push Floki Inu lower. With that, a plummet under the closest support of $0.000169 can see FLOKI plunging under its support level. With such a move, the meme token can fall towards 18 November low of $0.00013348.
Stay around for more crypto updates.