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$FLOKI Price Prediction:
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- Bitcoin currently exhibits strength against bearish trends, with a decrease in dominance.
- Decrease in bitcoin dominance implies strong performance in other categories like meme coins.
- FLOKI stands out as one of the top-performing meme coins in the market.
- There's anticipation for a bullish breakout for FLOKI, contingent upon bitcoin's performance.
- FLOKI's bullish breakout is less likely if bitcoin experiences a crash.
- FLOKI's performance is compared to Pepa, another meme coin that recently broke out after a similar pattern.
- Both FLOKI and Pepa showed strong resistance but also formed higher lows before their breakout.
- FLOKI's open interest isn't bearish and has gained momentum in the last 24 hours.
- A bullish breakout for FLOKI is expected if open interest continues to rally.
- A key indicator for FLOKI's bullish breakout is open interest surpassing $117 million and reclaiming momentum from the 28th.
- However, the potential for FLOKI's breakout hinges entirely on bitcoin's performance.
- If bitcoin doesn't experience a significant bullish event, FLOKI's breakout is unlikely to occur.
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