A pseudonymous cryptocurrency analyst on Wednesday hinted at the potential for FLOKI (CRYPTO: FLOKI), a meme coin, to experience a 40% surge. 

What happened: This comes as the top meme cryptocurrency Dogecoin (CRYPTO: DOGE) reached $0.10 levels on Monday. “As we start to see a bit more action across DOGE and meme coins, I wouldn’t sleep on $FLOKI,” the analyst wrote on X.

Kaleo drew comparisons between FLOKI and a Solana (CRYPTO: SOL) based meme coin, BONK (CRYPTO: BONK). The analyst observed a pattern in FLOKI’s recent price movements, recalling, “The retrace after last night’s retest reminds me of what we saw when BONK retested its ATH a couple of weeks [ago]. There was a brief pullback/accumulation period before a move to price discovery. I think we’ll see something similar here.” 

At the time of writing, FLOKI was trading at $0.000040. BONK was trading at $0.0000091.

Further underlining the similarities, Kaleo provided a short-term technical analysis comparing the BONK and FLOKI breakout models: “Structural similarities are incredibly similar. A 40% move for FLOKI isn’t too crazy considering it still would be 20% below its ATH.” 

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Meanwhile, in a Monday AMA with the Floki community, Floki’s Head of Operations B, provided an update on the much-anticipated game Valhalla, their upcoming play-to-earn NFT metaverse game.

“Based on careful analysis of the data, and the fact that we can only do this mainnet launch once — and also due to the fact that the success of its launch could be of existential significance to Floki, we will only launch Valhalla mainnet during perfect market conditions,” B said during the AMA.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?