FLOKI’s current price of $0.000086 but bulls could eye $0.00015 or higher amid a bullish Q4.
Floki (FLOKI) rose slightly on Friday, hitting intraday highs of $0.000088.
The gains came as the broader crypto market cheered its latest uptick, with Floki up as the cryptocurrency project hit a major milestone with the trading launch of its first exchange-traded product (ETP) in Europe.
With the move likely to bolster FLOKI’s adoption as crypto builds momentum into a historically bullish Q4 cycle, bulls could ride overall sentiment to eye gains to $0.00015 – levels last seen in July.
Valour, a subsidiary of DeFi Technologies, introduced the Valour Floki (FLOKI) SEK ETP in September.
The ETP is now live on Sweden’s Spotlight Stock Market, a platform with multiple digital asset ETPs listed.
Floki’s ETP begins trading in Europe just days after Valour announced the listing of several crypto ETPs on the Spotlight exchange.
These included exchange-traded products for Pepe, Flare, Virtuals Protocol, Optimism, Story (IP), Immutable and Quant.
Apart from Floki, the firm also launched a crypto-product on The Graph, Theta, IOTA, and Hyperliquid.
According to details the launch of Valour’s Floki ETP marks a milestone for the BNB Chain-based project.
In particular, Floki is now the first BNB Chain project, aside from BNB, to secure such an ETP listing in Europe.
Valour’s crypto product on the memecoin goes live a couple of months after Floki became the first Markets in Crypto Asset compliant token in Europe.
It followed the project’s launch of a MiCA-compliant white paper with the European Securities and Markets Authority (ESMA) in July.
That, and this ETP, together point to Floki’s growing adoption.
A similar trend is anticipated after the flagship metaverse game Valhalla went live.
As Bitcoin pumped to above $120,000 and top altcoins tracked the uptick, Floki jumped to highs of $0.000089.
While not a major breakout as happened with tokens like Zcash, PancakeSwap and Ether.fi, the gains signaled a potential upward flip for the memecoin.
FLOKI’s current price of $0.000086 is near this level, with 24-hour uptick of 2% and 9% in the past week.
However, bulls are down 5% over the past month after the downside action that hit cryptocurrencies in September.
The technical outlook nonetheless suggests a potential accumulation zone near current levels.
Although the Relative Strength Index (RSI) at 45 suggests indecisiveness, the Moving Average Convergence Divergence (MACD) is signaling a potential bullish crossover.
If this strengthens, a flip in the daily RSI could align with a possible reversal.
Price targets on the upside include the key levels of $0.00011 and $0.00015.
This could mean an initial 70% rally in coming months, mainly buoyed by overall market conditions.
Notably, a successful break above $0.00015 could confirm a sustained upward trend and bring $0.00025 into play.
