Floki Price: Is Partnership With Method Enough To Trigger Market Reaction? 

FLOKIs impressive performance in 2024 saw it deliver over 1,100% upside from its lowest to highest point during the year.

It has so far given up most of those gains, and its press time price tag was equivalent to a 79% discount from its ATH.

This heavy discount suggests that it could potentially deliver another impressive rally, such as the one observed in the first half of 2024. However, it would need a major catalyst for that to happen.

The partnership with Method could potentially reignite investor interest and perhaps even trigger another robust demand wave.

Speaking of demand, spot flows shifted in favor of positive flows since 23 June, indicating potential demand build-up.

However, the prevailing demand remained relatively weak, which means the chances of a major bullish move remained low. The derivatives segment also demonstrated a surge in investor interest.

Open interest surged from $18.76 million on 22 June to $23.95 million as of 28 June. Derivatives volume was up from $33.7 million to $56.7 million in the last 3 days.

These observations further reinforced the observation that sentiment around FLOKI has been shifting.

In addition, bullish expectations were further supported by a favorable ranking in a recent Coingecko survey. This survey listed FLOKI as one of the topmost promising crypto projects with a market cap of less than $1 billion.

The heavily discounted prices and improving market sentiment could potentially work in FLOKIs favor.

However, it is worth noting that the market sentiment had not yet switched in favor of altcoins and meme coins.

Nevertheless, this suggests that FLOKI might be one of the top coins to consider during the next altcoin rally.

The fact that FLOKI started off as a meme coin but has been working towards building beyond the meme coin narrative could also be in its favor. But how far can it go in case it finds favor with the bulls？

Its potential remains unknown given the many variables involved. Nevertheless, a rally to its previous ATH would deliver over 360% upside.