Critical Support Level
Crypto analyst Cryptorphic believes that FLOKI’s ability to hold the $0.000155 support level after the recent market crash is a positive sign. This level could serve as a bounce point for a price rally.
Bullish History
FLOKI has had a strong performance in 2024, with two major bullish surges in March and May. These rallies resulted in new all-time highs.
Potential for a Third Leg Up
Cryptorphic suggests that a third leg up could drive FLOKI to new heights. The analyst points to the ongoing bullish sentiment in the market as evidence for a potential rally.
Target Price
If the rally occurs, Cryptorphic predicts a 117.71% increase, which could push the price to $0.00032. This would bring it close to its June 5 all-time high of $0.0003462.
Invalidation Scenario
However, the analyst cautions that a breakdown below the $0.000155 support level could invalidate the predicted rally and turn the outlook bearish.
Current Status
FLOKI is currently trading at $0.00016, having recovered slightly from its recent crash. Its daily trading volume has also increased, indicating renewed interest in the meme coin.
