MemecoinFLOKIhasalsobenefitedfromrecentinflowsintothecryptomarkets,whichhasleftmanycryptocurrenciespostinggainsinboththe24-hourandseven-daytimeframes.
Notably,thisinflowhasseenFLOKIbreakingoutofadescendingtrendlinethathasservedasthepeakofitsralliessinceJune.Thisbreakoutisseenasakeytechnicaldevelopment,withcryptoanalystWorldOfChartsemphasizingitasastrongbullishsignal.Accordingtotheanalyst,thebreakoutopensthetrendforthememecointocontinuetheruntowardanewall-timehigh.
FLOKIReadyFor200%SurgePastAll-TimeHigh
Althoughitwaslaunchedin2021,FLOKIrosetoprominenceearlierthisyearafteritwentona1,100%increaseoverfivemonthstopeakatanewall-timehighof$0.0003449.Asitstands,thememecoinhascorrectedbyaround55%fromthisall-timehigh.
However,accordingtoanalysisandpredictionfromcryptoanalystWorldOfCharts,thiscorrectionisabouttoendandthe$0.0003449all-timehighmightnotholdforlonganymore.
WorldOfChartssharedhisanalysisonthesocialmediaplatformX,postingadailycandlestickchartoftheFLOKI/TetherUStradingpair.Thechartrevealsthatthememecoinhasjustbrokenabovetheresistancetrendlineofabullishpennantflagpattern,whichthememecoinhasbeentradingwithinsincehittingitsall-timehigh.
Intermsoftheprojectedpricetrajectory,theanalystbelievesFLOKIisoncourseforanotherbreakoutthatcouldnotonlyexceedthepreviousall-timehighbutalsopushtowardapricepointjustbelow$0.0005.Toreachthispoint,FLOKIwouldhavetogoona210%rallyfromthecurrentpricelevel.
$Floki#FlokiFinallyBreakingOutSendItTowardsNewAth🚀https://t.co/I2sVnrx94Xpic.twitter.com/LNsAHKe1Q0
—WorldOfCharts(@WorldOfCharts1)October19,2024
IsA200%RallyPossibleForFLOKI?
Atthetimeofwriting,FLOKIistradingat$0.0001554andisstillupby12%inthepastsevendays.Accordingtodatafromon-chainanalyticsplatformSantiment,FLOKIandothermemecoinsarewitnessingthehighestlevelofinterestandmentionsacrosssocialmediaplatformsinfivemonths.ThisinterestingtrendisbroughtaboutbythenewinterestinDogecoin,whichhasnaturallyflowedintoothermemecoins.
Giventhisheightenedattentionandthebullishtechnicalsetuphighlightedbyanalysts,a200%rallyiswithintherealmofpossibility.FLOKIhasalreadyshownitcanachievesignificantgainsinashorttimeframe,havingpreviouslypostedanimpressive1,100%increaseearlierthisyear.Ifthecurrentsocialbuzzandmarketdynamicscontinuetofavormemecoins,FLOKIcouldbreakthroughitsresistancelevelsandembarkonanotherexplosiverallytodelivera200%increasebeforetheendoftheyear.
Accordingtoanothercryptoanalyst,FLOKIissetforanevenbigger2,100%increaseto$0.002.
FeaturedimagefromLunu,chartfromTradingView
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