Crypto fans are flocking to Floki. But is it time for a pullback? What happens next?

Floki Inu, the meme coin cryptocurrency, has had followers aflutter recently, after it took to X to announce that it has reached a second ATH (all-time high) of $80.5 million staked on Floki tokens.

According to $Floki itself, this is in no small part due to Web3 investment firm DWF Labs buying over $1.25 million in Floki tokens recently, which the crypto announced on its website and Medium channel on December 5^th.

Crypto stans reacted positively to the news, with the token’s price rising by almost 20% between December 5^th and December 6^th.

@RealFlokiInu posted on X on December 4^th that:

Read more: Here’s why Caspar and Floki Inu are going parabolic

But is the uptrend over?

A potential Floki pullback: our analyst’s views

Invezz analyst Crispus Nyaga had this to say on Floki's current popularity:

A bull run for Floki ahead?

However, Nyaga went on to say that:

One strong reason for this? The ongoing Bitcoin bullishness of the market – which sees some even opining that Bitcoin could reach $100,000 by end 2024 – as a rising tide lifting all cryptocurrency boats.

Another reason for the Viking-themed meme coin to keep rising in price – irrespective of Bitcoin’s – is Floki’s NFT-powered game, hosted on the Metaverse, called Valhalla.

On December 5^th, Floki again took to X and released a ‘sneak peek’ of improvements to the P2E game on X – the first time that followers, Floki enthusiasts and crypto traders were getting visuals of the upgrade.