Crypto analyst Master Kenobi has provided an update on his master plan prediction for the Shiba Inu competitor, Floki (FLOKI). Based on his analysis, the meme coin will soon begin an upward trend that will lead to massive price gains.
Analyst Provides Update On FLOKI
Master Kenobi stated in an X post that FLOKI was very close to the right edges of the purple rectangle in his accompanying chart. The accompanying chart indicates that the meme coin is almost done consolidating and is expected to enjoy a price breakout soon enough. The analyst also noted that FLOKI had been going in line with his master plan prediction.
He stated that the price broke the downtrend just as expected and entered a retracement of approximately ten days. The analyst also reminded market participants that the purple rectangles close around October 20th to 21st, meaning there are about 10 to 11 days before the FLOKI expansion begins.
Meanwhile, Master Kenobi highlighted the similarity between FLOKI’s current chart and the one from October 2023. He claimed that the Relative Strength Index (RSI) is also showing a similar ABC pattern. With the meme coin currently below the dotted line on his chart, he added that this is the best accumulation zone in many months.
The Initial ‘Master Plan’ Prediction
In his initial master plan prediction for FLOKI, Master Kenobi cited the meme coin’s growth expansion phase over the years. In 2021, the Shiba Inu competitor is said to have experienced a 92,000% price surge over 112 days. A bear market followed after this period.
In 2022, after consolidating in the purple rectangle like Master Kenobi highlighted, the meme coin significantly rose with an 11X increase in 112 days. Meanwhile, in 2023, FLOKI recorded a 22X price increase in 133 days. The analyst expected this trend to continue if the pattern holds. If that happens, he predicts a price rise followed by another consolidation period of at least three months.
As Master Kenobi noted, if the 2022 move plays out, the FLOKI price could increase again by 11x, rising to around $0.0011. This would give the meme coin a market cap of $12 billion. Meanwhile, if the 2023 move repeats itself, the Shiba Inu competitor could enjoy a 22X price increase and rise to $0.0023 in 133 days, reaching a market cap of $25 billion.
The analyst stated that both scenarios are “perfectly achievable and realistic.” Considering that the altcoin’s current chart is similar to the 2023 chart, it is more likely that the meme coin could replicate the 22X price increase from last year.
At the time of writing, FLOKI is trading at around $0.0001329, down almost 5% in the last 24 hours, according to data from CoinMarketCap.
