#FLOKISKYROCKET
FLOKI’s Bullish Breakout Could Push Price Near All-Time Highs
Despite a minor dip, $FLOKI’s market performance remains strong, ranking seventh by market cap among meme coins and holding the 57th spot overall on CoinMarketCap (CMC) out of nearly 9,800 coins.
$FLOKI is also one of the few meme coins to have surpassed its 2021 all-time high (ATH). This achievement is particularly impressive, especially in the current market, where many meme coins struggle to regain their past highs.
$FLOKI’s ability to break its ATH in mid-2023 demonstrates strong resilience and market support, cementing its position as a top contender in the meme coin sector.
Floki (FLOKI) price analysis
Looking at $FLOKI’s price chart, one major event stands out—the sharp price spike around July 2023, which marked a new all-time high (ATH) for the coin.
This breakout above the 2021 highs created strong positive sentiment, positioning FLOKI as one of the few meme coins to reach such heights in today’s market.
However, after this impressive rise, $FLOKI entered a period of slower growth and a slight decline, forming a bearish trend. This trend is marked by lower highs, meaning the price has struggled to reach previous peaks.
Although only a few points on the chart define this downward trend, future attempts to rise are expected to face tough resistance at these levels, making it an important area for traders to watch.
Another key feature is the upward-trending channel that FLOKI is moving within, though it exists in a broader downtrend. This pattern, called a “bear flag,” often signals a potential drop in price.
While the short-term rise inside the channel may look promising, the overall bearish outlook suggests that FLOKI could break lower soon. The lower boundary of this channel has acted as a key support level, but repeated tests of this support increase the chances of it breaking.
If the price drops below this support level, particularly around $0.000126, it could trigger a significant decline, potentially around 12.94%.