When Coinbase announced plans to add Floki Inu to its roadmap, the memecoin’s price skyrocketed. Within an hour, Floki jumped 28%, from $0.00022324 to $0.00028309. That wasn’t just a spike—it was Floki’s highest price in five months. While being on Coinbase’s roadmap doesn’t guarantee a listing, the news was clearly enough to create buzz among Floki investors.
What caused this huge leap?
The announcement alone seems to have fueled the surge, but Floki Inu has had a great week. Over the past seven days, its value has nearly doubled. Currently, the token is holding steady at around $0.0002531, a key support level. It has bounced off this level several times, showing resilience despite the usual ups and downs of the cryptocurrency market.
But here’s the thing: The Relative Strength Index (RSI) crossed 75 during the surge, meaning Floki was overbought. It has since cooled to 58.85, suggesting investors are taking a breather before the next move.
What the Charts and Whales Are Saying
Technically, Floki inu is standing on solid ground. Its immediate support level is at $0.0002531, with another level of support at $0.00024594. In terms of trend strength, the Average Directional Index (ADX) is at 34.02. That's a good sign—it means the bullish momentum is still there, although it's losing steam.
Interestingly, whale activity suggests something is afoot. Coinglass data shows whales are placing significant short orders above the current price and buy orders below. Translation? There could be a dip before another rally.
What to expect
Floki Inu’s recent performance mirrors the trend of memecoin season. With investors flocking to high-risk, high-reward tokens, Floki could maintain its bullish momentum. However, its current trend is showing signs of fatigue, so caution is key. For now, all eyes are on Floki Inu as it navigates this exciting phase. Will it maintain its momentum or move further up? The next few days will tell.
