The Floki Inu (FLOKI) price is under pressure on Monday as weekend optimism in the crypto market succumbs to caution, with investors instead stacking an exciting new GambleFi token called Mega Dice (DICE).
FLOKI was last down close to 5% on the day and trading just to the south of $0.00018.
The meme coin has once again found strong resistance at its 50DMA, suggesting the bulls are yet to regain control.
Chart analysis suggests things are looking good for a potential near-term push higher, however.
Bullish Chart Analysis – Floki Isn’t Going to Zero Anytime Soon
In late April, the Floki price snapped its downtrend from its March highs.
It then proceeded to find strong support at this prior downtrend at the start of May, which is a very bullish sign.
The Floki price turned bullish after this breakout last month. Source: TradingView
Additionally, the Floki price appears to have spent the last few weeks forming an ascending triangle, which tends to form ahead of bullish breakouts.
Assuming FLOKI can soon burst above $0.00020, a quick retest of March highs above $0.00030 would be possible.
The Floki price could soon challenge recent highs if it can break above this resistance area. Source: TradingView
Bullish short-term technicals and long-term tailwinds like Floki’s strong community suggest that Floki isn’t going to zero soon.
FLOKI is still a highly speculative crypto to invest in, however. Its bloated $1.7 billion market cap suggests that, while there is still room for upside, any such gains will be hard fought.
Meme coins like Floki lack obvious utility, meaning that they can quickly dump as pessimism sets in.
It’s no wonder that Floki investors are turning to a new utility-packed GambleFi token called Mega Dice.
Floki Alternative to Consider – Mega Dice (DICE)
Crypto investors looking for investments with greater upside potential than Floki should check out presale investing.
Web3 projects and protocols often sell their native tokens at a discount to early investors to raise funds for development.
If presale investors can find a good project that gains traction in the market, they can book exponential gains.
One project that analysts at Cryptonews are a big fan of is Mega Dice Casino.
This already well-established crypto casino has launched a presale of its utility token, DICE.
DICE holders get big cashback benefits on their wagers and can generate passive income via DICE staking.
The crypto casino is also running a $750,000 airdrop to reward early presale investors.
Don’t Miss Out! Join the $DICE Airdrop and Earn Your Share of a $750,000!
Learn how below pic.twitter.com/OqbkcWR2LL
— Mega Dice Casino (@megadice) April 30, 2024
The project has already raised $700,000.
Potential investors may want to move quickly, as the DICE price will rise when the $1 million milestone is hit.
We’ve just crossed $700K in our presale & hit 8k Telegram members – to celebrate, we’re giving away $4000 in SOL!
Don’t miss out on the opportunity to win BIG with Mega Dice Casino!
Take part here https://t.co/wSxiRnIHlz pic.twitter.com/NDMbxQLawK
— Mega Dice Casino (@megadice) May 3, 2024
Mega Dice is also running a referral scheme.
Refer & Earn with $DICE!
Imagine your referral spends $1000, you will then automatically get your 10% referral fee of $100
Sounds good right? Here’s how to get started: pic.twitter.com/lBX2izatxp
— Mega Dice Casino (@megadice) May 6, 2024
Check Out Mega Dice Casino’s Presale
The post Is Floki Going to Zero? FLOKI Price Drops 0.8%, Investors Stack This New GambleFi Token appeared first on Cryptonews.