The current volatility and uncertainty of the crypto market direction this bull season have prompted investors to seek altcoins with high potential, and 1Fuel has emerged as a top contender. According to analysts’s insights, 1Fuel’s potential could exceed 100x following the massive traction it has gained in the past few weeks.
FLOKI and WIF traders are intrigued by the rapid pace of its token sales, realizing it could be nearing the 2 million mark in a few days. This has pulled them to secure early slots in 1Fuel, which is currently being sold at a discounted presale price of $0.017.
Read on to find out why these traders are eager to invest in 1Fuel.
FLOKI investors seek alternatives following decline
On the charts, FLOKI has formed a descending triangle pattern, a bearish pattern that reveals high selling pressure. This suggests that sellers are gaining momentum, backed by a high chance of FLOKI breaking below its critical support level of $0.0013.
At press time, FlOKI is trading at this support level of $0.0013, reflecting a threatening price fall. This trend started on December 9, 2024, when FLOKI hit an all-time high of $0.0028. Since then, FLOKI has continuously formed lower highs and lower lows, solidifying a sustained decline in market sentiment.
FLOKI’S market activity has led investors to close their market positions, focusing on one of the best cryptocurrencies, 1Fuel. Similarly, WIFUSDT charts reveal traders have started exiting their long positions also as it replicates a price decline, thus reflecting a wider shift towards profitable alternatives like 1Fuel.
WIF faces intense selling pressure
In the past 24 hours, Dogwifat (WIF) has declined by 9% per CoinMarketCap. Further analysis reveals that just like FLOKI, WIF has formed a descending triangle, suggesting investors are selling their assets massively. According to TradingView, WIF is trading at a support level of $1.3.
WIF faces the risk of breaking below this key threshold as selling pressure continues to rise, with a high probability of more downward movement. Meanwhile, WIF investors are amazed at 1Fuel’s performance and have decided to invest, hoping to get mass
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Author: Crypto Daily
