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Category: Forex News

Crypto News Today: FLOKI Leads SHIB Higher as BTC Hits $70,000

By Published On: March 9, 20241.2 min readViews: 1990 Comments on Crypto News Today: FLOKI Leads SHIB Higher as BTC Hits $70,000

Dogecoin (DOGE) and shiba inu (SHIB) outperformed BTC and the broader market.

DOGE and SHIB ended the Friday session with gains of 4.58% and 11.73%, respectively. SHIB ended a three-day losing streak. Despite a three-day losing streak, SHIB is on target for another stellar week. After surging by 133.09% in the week ending March 3, SHIB was up 56.52% Monday through Friday. DOGE was up a more modest 6.55% after rallying 79.39% in the week ending March 3.

Upward trends in active addresses fueled breakouts as investors returned from the sidelines. BTC remained the market barometer, a Friday record high driving buyer demand for meme coins.

However, FLOKI (FLOKI) stole the show on Friday, surging 66.39% to $0.0002323. FLOKI was up 60% Monday through Friday after ballooning 299% in the week ending March 3. FLOKI has benefited from listings on crypto exchanges and endorsements as a long-term investment opportunity.

Coinhako, a Monetary Authority of Singapore-regulated crypto exchange, listed FLOKI on Friday, March 8. CoinMENA also announced the listing of FLOKI on Friday.

Technical Analysis

Bitcoin Analysis

BTC sat well above the 50-day and 200-day EMAs, affirming bullish price signals.

A BTC break above the Friday all-time high of $70,066 would support a move toward the $75,000 handle.

BTC-spot ETF market flows need consideration.

However, a fall below the $67,500 handle could give the bears a run at the $59,176 support level.

The 14-Daily RSI reading, 74.89, shows BTC sitting in overbought territory. Selling pressure may intensify at the Friday all-time high of $70,066.


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