FLOKI Ready to Start The Meme Coin Season! Details Inside

FLOKI Ready to Start The Meme Coin Season! Details Inside

What To Know

  • FLOKI forms bullish ascending triangle, signaling potential breakout.
  • Analysts see FLOKI’s next move as critical for meme coin momentum.
  • Short-term caution persists as long/short ratio declines despite price surge.

When the crypto market started showing signs of an upward rally, attention did indeed return to the meme coin sector—and FLOKI is firmly in the spotlight. FLOKI has developed a category of its own with fame among the community and viral marketing strategy, and not one bit behind DOGE and SHIB. With the price going up and the trading volume increasing, a question that many are asking is if FLOKI will kick-start the next meme coin rally. 

This definitive moment may well be part of the interesting times to judge FLOKI’s technical setup and possible upside potential with this surge in the token’s popularity and the improved market sentiments.

In this price analysis session, we will consider what FLOKI is doing on the chart at the moment, the key areas where it is encountering resistance, and what to keep an eye on in the days ahead especially as most of the traders begin to place their bets on the anticipated next wave for meme coin mania.

What FLOKI’s current Price Action Suggests… 

In the meme coin field, Floki Inu has yet again refilled the spotlight: the token’s recent stride has put the spotlight back on retail traders as well as analysts. Currently, FLOKI trades at $0.0001091, having surged by almost 10% within the last 24 hours. This sudden bullish momentum has set off waves of discussions within the crypto community, especially after. 

Cryptollica, an analyst with large followership, released his insight on the matter via X. According to his analysis, the daily chart of FLOKI is showing a bullish ascending triangle pattern, which usually precedes a significant bullish breakout. Curiously, the same pattern appeared in 2021 for the first time, and since then, FLOKI has been largely in a consolidation phase, building the bedrock for its next explosive breakout.

Analysts claim that should FLOKI be able to break out of the triangle with large volume, it would “send FLOKI to the moon” and spark the hype around meme coins once again, drawing earlier bull phases as a precedent.

But, there seems to be quite animosity from the short-term perspective. Although there have been coordinated boosts in price action, the data shows something ominous with the long/short ratio-halving; traders now seem to exhibit a more cautious stance when thinking about leverage positions. A lowering of the ratio typically relates to doubt against immediate bullish continuation and enough room for potential pullbacks before a definite rally is set in. 

FLOKI Long short ratioFLOKI Long short ratio
Source: Coinglass

Thus, being a rising triangle that essentially promises output, the FLOKI might take some more time to gather sufficient momentum to validate its bullish structure. However, unless there is considerable carry from the general market or higher retail excitement, FLOKI is unlikely to usher in the new meme coin season on its own. Even so, reserve FLOKI as a token to closely watch with the support of its strong community, far-reaching market presence, and its technical platform.

Conclusion

FLOKI showcases solid potential with its bullish ascending triangle pattern, though there remains some short-term caution with declining long/short ratios. If anything, alone, it certainly will not kick off a meme coin season; however, FLOKI’s momentum, community backing, and technical setup make it one worthy of look during periods of favorable sentiment.

 

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Dipayan MitraDipayan Mitra
Dipayan Mitra is a dedicated Editor and Journalist in the Web3 and cryptocurrency domain with over five years of experience in the media industry. A journalism graduate, Dipayan has developed a keen interest in staying up-to-date with the latest developments in the crypto space, allowing him to offer fresh insights and expert analysis on emerging trends. Specializing in technical analysis and market trends, Dipayan is known for his ability to break down complex cryptocurrency topics and deliver them in an accessible and engaging manner. Dipayan’s work has been featured on crypto platforms such as AMBCrypto and CoinGape, where he contributes regularly with high-quality, timely content.