Floki Inu Price has jumped 12% in the past 24 hours, reaching $ 0.0001921 in the first Asian sessions on Wednesday. The recent increase appears to have been prompted by the announcement of a sponsorship with league leader Napoli who will see Floki Inu’s logo appear on his match jersey and stadium.
Floki Inu signs sponsorship deal with Napoli
The team behind Floki Inu (FLOKI) has entered into a partnership with Italian football giant SSC Napoli. The advertiserst by SSC Napoli made in November showed a Floki Inu logo depicting a Shiba Inu dog wearing a Viking helmet which will be displayed on the back of Napoli jerseys and on LED panels around the team stadium for the remainder of the season in Classes.
Here is the official tweet from SSC Napoli on the partnership with #FLOKI.
Go show them love, Vikings! https://t.co/cSfZxvkUCc
– Floki Inu (@RealFlokiInu) 23 November 2021
The Naples Accord is a addition to the list of Floki team football clubs with which it has partnered, including Cádiz from the Spanish La Liga and the Kerala Blasters from the Indian Super League.
FLOKI is an Ethereum-based token that was launched in the middle of this year, and according to Etherscan there are approximately 45,500 holders of FLOKI with a fully diluted market cap of $ 1.18 billion.
Floki Inu’s price could jump to $ 0.0002359
FLOKI / USD price action has been sideways since November 15 and has formed an asymmetric triangle on the four hour chart. Rising above the immediate resistance at $ 0.00018513 where embraced by the 50 period Simple Moving Average (SMA) could see the price of Floki Inu rise above the triangle resistance line.
If that happens, FLOKI could rise further to mark the top of the November 19 range around $ 0.0002359, a 38% increase from the current price of $ 0.000172.
The bullish movement of the Movign Average Convergence Divergence (MACD) indicator accentuates this positive outlook. Also note that the MACD sent a call to buy FLOKI yesterday when the MACD line (blue) crossed the signal line (orange) indicating positive market sentiment. Floki Inu’s uptrend will gain popularity once the MACD crosses the zero line into the positive region.
Four-hour chart FLOKI / USDT4
On the other hand, the negative divergence of the Relative Strength Index (RSI) indicator indicates that the bears have not given up on driving the FLOKI price down. Therefore, a drop below the immediate support at $ 0.000169 could see the coin itself fall below the support line. If that happens, the token could hit the November 18 low at $ 0.00013348.
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