$FLOKI Floki Inu Price Needs to Drop 20% before It Becomes Attractive to Buyers

Floki Inu price is showing signs that suggest a potential correction may be near.

Investors can expect FLOKI to lose 20% of its market value and retest $0.000216.

A sweep of the $0.216 support level could be a good place to buy on dips for absent buyers.

Floki Inu (FLOKI) price has been rising, but certain signs suggest that this steady uptrend may not continue. Conversely, FLOKI could slide lower, allowing buyers to accumulate meme coins.

Floki Inu price has a chance of being corrected

Floki Inu price formed a bearish divergence in the one-hour time frame, which is very similar to what happened in early March. Between March 1 and 4, FLOKI formed a higher high, but the momentum indicator produced a lower low, indicating a divergence. As indicators showed a decline in momentum, the meme coin eventually triggered a 48% correction.

Considering the ongoing bearish divergence between Floki Inu price and momentum indicators, history is likely to repeat itself. Therefore, investors can expect this meme coin to start another correction. There are two major swing lows – $0.000245 and $0.000216. The first target is about 12% away, and the second target is 22% away from the current price, which is $0.000278.

If the overall market outlook remains bullish, then sweeping the second swing low would be a good buying opportunity.