Floki Inu rallies 60% as anticipation builds around its Burj Khalifa showoff

Floki Inu FLOKI Burj Khalifa Dubai UAE falling wedge
image from medium.com

Key FLOKI Takeaways:

  • Meme-coin Floki Inu will feature on the iconic Burj Khalifa skyscraper in Dubai, on UAE National Day, Dec 3.
  • In anticipation of the event, FLOKI piled on 60% and is likely to continue the rally.

YEREVAN (CoinChapter.com) – Floki Inu, the cryptocurrency named after Elon Musk’s pet puppy, brought in three-digit gains in Q4, lost bullish momentum after topping out at $0.00034 on Nov 4. However, the latest massive advertising campaign signifies that FLOKI is ready to retaliate.

As the cryptocurrency’s official Twitter account announced on Nov 30, Floki Inu will have a massive display on the Burj Khalifa skyscraper in Dubai. The feature will go live today, on Dec 3, at 4:40 PM UTC. In detail, Dec 3 is the UAE National Day. Thus, the Burj Khalifa is typically reserved for official, government, and royal family celebrations.

The first cryptocurrency advert on the 2,722-feet tall skyscraper will likely increase Floki’s exposure. Not to mention, it could earn the meme-coin even more green candles on top of its 60% rally.

The Dubai extravaganza came after Floki’s extensive efforts to gain exposure worldwide. In late October, the meme-coin flaunted its Viking-helmeted avatar on public transportation in London. The $3.5 million campaign included not only The Smoke but also the US (downtown Los Angeles), Japan, Russia, and China.

Although the campaign got FLOKI in trouble with municipal authorities in the UK, it pumped the token’s price 400% in 4 days (Oct. 27-30).

Also read: Floki Inu launches expensive ad campaign in London as price soars 70%

Additionally, On Nov 19, Floki Inu partnered with India’s most-followed football club, Kerala Blasters FC. As the club has a vast number of fans, the marketing strategy brought FLOKI an additional 70% on the day of the announcement. The meme-coin didn’t stop there and declared sponsorship to the Italian football club SSC Napoli on Nov 25.

If past is any indication, the puppy crypto could eye further gains after the Burj Khalifa display. As of the Friday session, the FLOKI/USD exchange rate stood at $0.000207.

FLOKI bullish chart

The technicals on FLOKI’s four-hour chart also supported the bullish outlook. Floki Inu’s price action printed a Falling Wedge formation, consisting of two converging trendlines, limiting the price swing. Additionally, the setup predicted an uptrend after it was exhausted.

Floki Inu complied with the pattern and broke the Falling Wedge’s resistance on Nov 30. As mentioned, the digital asset has put on 60% since then and could gain more in the upcoming sessions.

Floki Inu (FLOKI) 4h chart, featuring a falling wedge. Source: FLOKIUSDT on TradingView.com
Floki Inu (FLOKI) 4h chart, featuring a falling wedge. Source: FLOKIUSDT on TradingView.com

FLOKI’s relative strength index (RSI; purple graph at the bottom) reached a critical point of 70 in the Friday session. In detail, the RSI reflects the traders’ perception of an asset’s return capacity. An RSI reading over the 50-70 range could translate as “overbought,” meaning the traders could short the asset and secure their profits.

If and when enough traders follow the described pattern, the price falls. FLOKI reached the upper margin of the noted range and hasn’t yet crossed it. Despite the bearish warning, the token could still see more gains ahead.

Also read: Floki Inu partners with India's most-followed Football club; aims to go mainstream.

Floki Inu’s Q4 advertising efforts paid off, as the digital asset logged significant gains in the noted period. If past is any indication, the Burj Khalifa campaign could also bring FLOKI green candles in the upcoming sessions.

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