A popular crypto analyst predicts that a strong competitor to Dogecoin (DOGE) is poised for significant growth. Known as Kaleo, the trader shares with his 641,600 followers on X that FLOKI’s market cap could potentially reach $10 billion, more than triple its current value. Kaleo suggests that FLOKI may continue to rise after displaying a cup-and-handle pattern, a technical analysis formation indicating a potential breakout.

Without using complex charts, Kaleo points out that FLOKI is retesting its 2021 all-time high and shows a clear cup-and-handle pattern on a high time frame. He believes that FLOKI, based on Binance’s BNB Chain, is on the brink of entering price discovery territory, indicating a possible surge to over $10 billion in the near future.

Drawing parallels to another successful memecoin, Pepe (PEPE), Kaleo highlights similarities in price patterns and narratives. He notes that FLOKI, being a high BNB beta meme play, is benefiting from the upward trend of BNB, the native token of the BNB Chain.

Currently, Floki boasts a market cap of $3.1 billion and is trading at $0.0003182, up over 1,000% from its price of $0.0000269 four months ago on February 5th.

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