$FLOKI confirms bullish breakout – Is a 20% price surge coming? - AMBCrypto Analytics

The recent price surge has created a bullish outlook for the FLOKI memecoin. Based on its price action, the coin has successfully retested the breakout of a bullish double-bottom pattern. There is thus a high chance that FLOKI could soar by 20% to reach the $0.00019 level in the coming days.  

Additionally, FLOKI was trading above the 200 Exponential Moving Average (EMA) on a daily time frame, indicating it was in an uptrend. With this successful breakout, investors’ and traders’ interest in the memecoin is gradually increasing.

According to the on-chain analytic firm Coinglass, FLOKI’s Open Interest has increased by 8% in the last four hours, and by 18% in the last 24 hours. Meanwhile, over the last seven days, bull bets on the long side have been steadily increasing. With the recent price surge, nearly $1.08 million of short positions are at risk of liquidation.