Floki Inu's (FLOKI) Recent Price Dip Provides a Buying Opportunity for Traders

Floki Inu's FLOKI/USD recent price drop provides a buying opportunity for traders supported by its strong fundamentals and institutional backing.

As the market experiences a downturn, some traders are identifying opportunities to accumulate assets at lower prices. One token that has seen significant price drops recently is Floki Inu (CRYPTO: FLOKI).

While the token’s recent price performance may not be ideal for traders who purchased it at higher levels, some traders and crypto influencers believe that the token’s strong fundamentals and institutional backing could make it a good buy at current levels.

Here are some recent updates and statements from traders regarding Floki Inu:

Making an appearance on the Benzinga PreMarket Show, Crypto Scofield stated that the current market dip is enabling smart investors with an opportunity to accumulate.

"I keep saying this, but the current market dip is giving smart investors an opportunity to accumulate," he said.

While he believes that Floki Inu will be the Dogecoin (CRYPTO: DOGE) of this bull run, he added that it is the "favorite among smart money."

"It has strong institutional backing and fundamentally outperforms other top meme coins like Pepe (CRYPTO: PEPE), Dogwifhat (CRYPTO: WIF), and Shiba Inu (CRYPTO: SHIB)."

Another crypto trader, Shelby, also voiced a similar opinion, adding that "marketing campaigns and robust product adoption, such as the Floki Trading Bot" strengthen Floki Inu fundamentals.

"The recent partnership with English soccer club and the launch of Valhalla Beta are also boosting the token's visibility and use cases," Shelby added.

"Don't miss the local bottom on the Floki chart. Zoom out and see for yourself," ProfessorAstrones stated in a recent tweet.

$FLOKI What a chart

Don't miss the local bottom on Floki chart.

(Not financial advice.) pic.twitter.com/zeQTLSYa76

— ProfessorAstrones (@ProfessorAstr) November 17, 2021

Recently, TokenFi, a part of the Floki Inu ecosystem, announced the development of an AI Smart Contract auditor.

"This will enable issuers to perform instant audits of tokens created on its platform," the flokiinu.com team stated.

"These reports will offer an extra trust layer by making advanced security practices accessible to users without deep technical knowledge."

Additionally, Floki's blockchain game Valhalla signed a deal with OG Esports, a competitive gaming leader.

"This will make Valhalla the official jersey sleeve sponsor and fans will receive exclusive content throughout the partnership," the flokiinu.com team stated.

"The partnership will also include joint appearances at events and activations in the metaverse."

See also: Floki Announces Partnership With English Soccer Club: ‘Miles Ahead Of Doge, Shiba, Pepe,’ Boasts Trader

The influence of Bitcoin as an institutional asset class will be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

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