Floki Inu (FLOKI) Skyrockets by 20%, Ready to Erupt 500% Higher, Crypto Analyst Predicts

Floki Inu's (FLOKI) has seen a massive price rally of over 20% in the last 48 hours. This bullish move comes after Coinbase announced it would include FLOKI crypto in its listing roadmap.

Floki Inu (FLOKI) price has seen a massive price rally of over 20% in the last 48 hours. This bullish move comes after Coinbase announced that it would include FLOKI crypto in its listing roadmap.

The announcement fueled excitement among investors, triggering a symmetrical triangle breakout. As a result, the Floki Inu price witnessed a massive weekly breakout rally of over 45%.

After being included in Coinbase’s “Coinbase Assets Framework,” which was announced on 13 March, the Floki Inu token price saw an instant increase.

This announcement spread quickly across social media platforms, generating buying interest and optimism among investors. Several analysts and traders estimate that FLOKI crypto may rise to 500% in several weeks.

The new development caused the trading volume to increase, which now averages $1.37 Billion. This sharp spike in activity can be attributed to the growing involvement of institutional and ordinary investors.

The current circulation and highest market capitalization of FLOKI stood at $2.50 billion. This shows that FLOKI is being accepted by investors in the meme crypto markets.

New listings offer tokens higher levels of exposure and convenience, while Coinbase confirmation is a step forward for FLOKI. This could further improve the amount and activity of the coin in global markets.

According to CryptoGems in his recent tweet, the Floki Inu price has bounced off from the demand zone. He further mentioned that it is ready for a violent move in the coming sessions.

$FLOKI / $DOGE chart

It just reversed this week and is about to catapult $FLOKI to Valhalla

Expect some violent moves from $FLOKI from here pic.twitter.com/hLsNkMGBbv

As per the Fib levels, the FLOKI crypto price reverted from the 50% zone. Moreover, it was ready to retest the 78.6% zone shortly.

Analysing the Key Levels

The Floki Inu price traded above the 61.8% zone and stayed above the key moving averages. Recently, a breakout was witnessed, and a short covering move loomed. The Relative Strength Index (RSI) line remained in the overbought zone, replicating a positive crossover on the chart.

Furthermore, the Average Directional Index (ADX) was around 35, indicating that a bullish trend was emerging. Additionally, the Chaikin Money Flow (CMF) reading conveyed positive cues. It represented a significant liquidity surge in the market.

The OI-weighted funding rate remained positive at around 0.117%, replicating demand for long contracts. Also, the long/short ratio was 0.9264. That conveyed long contracts dominance, unveiling the bullish stance.

The immediate support zones for Floki Inu were $0.0002470 and $0.0002300. At the same time, the resistance levels were $0.0002660 and $0.0002780.

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.