Crypto analyst Master Kenobi has provided an update on his FLOKI master plan. The analyst revealed that his initial analysis had been invalidated and mentioned what was next for the Shiba Inu competitor with this development.
FLOKI Master Plan Invalidated But Might Be A Good Thing
Master Kenobi revealed in an X post that the FLOKI Master Plan looks to have been invalidated. However, he believes that this is actually good news rather than bad for the Shiba Inu competitor. He went on to explain why this is a good thing for the meme coin, providing reasons why FLOKI is bound to thrive in this market cycle.
First, the analyst noted that the crypto world has evolved beyond DeFi, NFT, Gaming, and Metaverse narratives and is now focused on memes. In line with this, he opined that meme coins will be the primary narrative in this bull run. He added that crypto projects seem more credible when they are simpler and embody humor, which is why he is betting on memes, including FLOKI, to thrive in this market cycle.
Master Kenobi then mentioned that FLOKI has caught his attention with a few key aspects. He alluded to the fact that the meme coin is the foremost meme in the BNB ecosystem while remarking that BNB is the only blockchain infrastructure that is “genuinely evolving.”
Aspects Of The Meme Coin That Are Eye-Catching
The first aspect that the analyst identified is FLOKI’s repetitive chart pattern. The second one Master Kenobi mentioned is that the Shiba Inu competitor looks to be one of the strongest meme coins on the Binance chain, if not the strongest one. He cited the meme craze on Solana and how it helped elevate its ecosystem.
The analyst believes something similar is going to play out on the BNB chain. He remarked that BNB cannot afford to lose its position to SOL in terms of market cap. He added that BNB is well-placed to maintain its position over SOl since Binance remains the leading centralized exchange (CEX).
However, Master Kenobi noted that BNB will also need a flagship meme, which is where FLOKI comes in. He believes Binance has seen the need for a flagship meme coin, which is why it supports a few meme projects, including FLOKI.
Related Reading: Shiba Inu Price Movements: Here’s How Many Holders Are Now In Profit/Loss After That Sharp Drop
With a dedicated team, a game ready for launch, and a $1.25 billion market cap coupled with Binance’s support, the analyst remarked that the Shiba Inu competitor has all the “ingredients” to become a start in the next bull market.
As part of his earlier FLOKI Master Plan, Master Kenobi had predicted that the meme coin would likely enjoy a price explosion on October 21. He said one reason why that didn’t happen could be because of the imminent bull market, where “maximum volatility and unpredictability are preferred.” The analyst further predicted that the FLOKI price explosion might happen around mid-December, along with the Dogecoin and altcoins explosion.
Featured image created with Dall.E, chart from Tradingview.com
Credit: Source link
