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**Floki Price Surges Amid Wise Monkey Airdrop and Upcoming Valhalla Mainnet Launch**
The Floki price has seen a significant increase for the second consecutive day, with the cryptocurrency rebounding and traders anticipating the upcoming Wise Monkey airdrop. The Floki token, one of the leading meme coins in the crypto space, is currently trading at $0.000248, up about 22% from this week’s lowest level.
**Wise Monkey Airdrop Details**
Developers have shared additional details about the Wise Monkey airdrop, which is expected to benefit Floki traders. Floki holders are set to receive approximately 27% of all MONKY tokens by December 20. An additional 4% of MONKY tokens will be airdropped to TokenFi holders, while another 4% will reward users of the Floki Bot traders.
The Wise Monkey project has allocated 35% of the total MONKY supply for airdrops to the Floki Ecosystem based on the following breakdown:
• 27% of MONKY will be airdropped to Floki holders and stakers.
• 4% will be airdropped to TokenFi holders.
• 4% will reward users of the Floki Bot traders.
This distribution is expected to benefit Floki traders, as Wise Monkey is considered one of the most anticipated crypto projects, with a market cap exceeding $263 million.
**Valhalla Mainnet Launch Postponed**
The Floki price also rose ahead of the upcoming Valhalla mainnet launch, which was initially scheduled to happen in December but has been postponed to the first quarter of 2025. The developers noted that the postponement will give auditors a chance to verify the smart contract to prevent vulnerabilities.
**Token Burn Initiative**
Floki’s token burn initiative has continued, reducing the circulating supply. Data shows that the network has burned over 5.7 trillion tokens in the past three months, and this trend is expected to persist.
**Bullish Breakout Potential**
The Floki price is ripe for a bullish breakout, with the daily chart revealing a consolidation phase over the past few weeks, forming a bullish flag pattern. The price has moved above the 50-day and 100-day Exponential Moving Averages and is trading between the 38.2% and 23.6% Fibonacci retracement levels.
Additionally, Floki’s price action suggests the formation of a cup-and-handle pattern. If this trend continues, the price could stage a strong recovery, potentially reaching the year-to-date high of $0.0003480, representing a 42% increase from the current level.
A stop-loss for this trade is positioned at the 50-day EMA at $0.0002100. A drop below this level could signal further downside.
For more news and updates on the crypto market, visit Global Crypto News.
