The #meme_coin FLOKI has recently benefited from a growing interest in the crypto market, which has seen gains over both a 24-hour and weekly timeframe.
This positive momentum has led FLOKI to break out of a descending trendline that had capped its growth since June. This breakout is considered a significant technical signal, which crypto analyst World Of Charts highlighted as a strong bullish factor. According to his analysis, this breakout opens the door for further growth, with the meme coin potentially heading towards a new all-time high.
FLOKI Set for a 200% Surge
Although $FLOKI was launched in 2021, it shot to prominence earlier this year after surging by 1,100% in five months, reaching a new all-time high of $0.0003449 USD. However, after this massive rally, a correction followed, bringing the price down by 55% from its peak.
According to World Of Charts, this correction is nearing its end, and the all-time high of $0.0003449 USD may not last much longer.
Technical Analysis Points to Another Breakout
On the social media platform X, World Of Charts shared his analysis with a daily candlestick chart for the FLOKI / TetherUS trading pair. The chart shows that the meme coin has just broken above the resistance trendline of a bullish flag pattern that has been in place since reaching its previous all-time high.
The analyst predicts that FLOKI is on track for another breakout, which could not only surpass the previous all-time high but push the price towards $0.0005 USD. This would require a 210% rally from the current price level.
Is a 200% Rally Possible for FLOKI?
At the time of writing, FLOKI is trading at $0.0001554 USD, up 12% over the past seven days. According to data from Santiment, FLOKI and other meme coins are witnessing the highest levels of interest and mentions across social media platforms in the past five months, fueling renewed interest in meme coins like Dogecoin.
Given this growing attention and the bullish technical setup highlighted by analysts, a 200% rally is within reach. FLOKI has already demonstrated that it can achieve significant gains in a short timeframe, having previously risen by 1,100% this year. If the current market enthusiasm and social momentum continue to favor meme coins, FLOKI could break through its resistance and embark on another explosive rally, delivering a 200% surge by the end of the year.
Another crypto analyst even predicts that FLOKI could see an even greater 2,100% increase, reaching a price of $0.002 USD.
#CryptoSurge , #FLOKI? , #BullishTrend , #MemeCommunity
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