Crypto analyst Master Kenobi provided an update on his FLOKI master plan. The analyst revealed that his initial analysis was invalidated and mentioned what’s next for the Shiba Inu competitor with this development.
FLOKI master plan invalidated but could be a good thing
Master Kenobi revealed in an X post that the FLOKI master plan appears to have been invalidated. However, he believes that this is actually good news rather than bad for the Shiba Inu competitor. He then explained why this is a good thing for the meme coin, explaining why FLOKI is bound to thrive in this market cycle.
First, the analyst noted that the crypto world has evolved beyond DeFi, NFT, Gaming, and Metaverse narratives and is now focused on memes. In the same vein, he felt that the meme pieces would be the main narrative of this bull race. He added that crypto projects appear more credible when they are simpler and embody humor, which is why he is betting on memes, including FLOKI, to thrive in this market cycle.
Master Kenobi then mentions that FLOKI caught his attention on a few key aspects. He alluded to the fact that the coin is the most important meme in the world. BNB ecosystem while noting that BNB is the only blockchain infrastructure that is “truly scaling.”
Aspects of the Meme Coin that are Catchy
The first aspect identified by the analyst is the repetitive graphic model of FLOKI. The second thing Master Kenobi mentioned is that the Shiba Inu Competitor appears to be one of, if not the strongest meme coins on the Binance Chain. He cited the meme craze on Solana and how it helped elevate its ecosystem.
The analyst believes something similar will happen on the BNB chain. He noted that BNB cannot afford to lose its position to SOL in terms of market capitalization. He added that BNB is well placed to maintain its position on SOl since Binance remains the first centralized stock exchange (CEX).
However, Master Kenobi noted that BNB will also need a flagship meme, and that’s where FLOKI comes in. He believes Binance saw the need for a flagship coin, which is why it is backing a few meme projects, including FLOKI.
Related reading: Shiba Inu Price Movements: Here’s How Many Holders Are Now In Profit/Loss After This Sharp Drop
With a dedicated team, a ready-to-launch game and a market capitalization of $1.25 billion coupled with backing from Binance, the analyst noted that competitor Shiba Inu has all the “ingredients” to become a hot spot. start in the next bull market.
In the context of its previous FLOKI master planMaster Kenobi predicted that the coin itself would likely experience a price explosion on October 21. He said one of the reasons this hasn’t happened could be because of the impending bull market, where “maximum volatility and unpredictability are preferred.” The analyst further predicted that the FLOKI price explosion could occur around mid-December, along with the explosion of Dogecoin and altcoins.
Featured image created with Dall.E, chart from Tradingview.com