FLOKI Surges 100% in 30 Days as RSI and MACD Signal Strong Buying Pressure

FLOKI, the meme token, has rebounded to $0.0001307 after hitting a seven-day low of $0.00012035 earlier in the week. Despite remaining 64% below its all-time high of $0.0003449 set in June 2024, the token has surged 100% over the past 30 days and climbed 31% in the last fortnight, propelling it to the 100th position in market capitalization rankings. Analysts highlight positive technical indicators, including a relative strength index (RSI) rebounding above 60 and a moving average convergence divergence (MACD) stabilizing, as signs of sustained buying pressure. The FLOKI price has also broken out of a pennant pattern formed in July, while trading volume has increased to $200 million from $115 million in a single day, further suggesting potential upward momentum [1].

The token’s price chart displays a classic “cup-and-handle” formation, characterized by a dip between May and early July followed by a rebound and breakout above the cup’s upper boundary. This pattern, combined with social media commentary from traders noting a flipped box acting as support, reinforces optimism about a near-term rally. Some analysts predict FLOKI could double in 30 days, reaching $0.00020 by late August and potentially surpassing $0.00030 by the end of Q4 [1]. However, these projections are contingent on broader market conditions and external factors, such as U.S. trade developments, which could accelerate or hinder the token’s trajectory.

The Floki Inu team’s ongoing project rollouts, including the play-to-earn game Valhalla, are cited as potential catalysts for increased demand. While the token’s price action remains independent of these developments, the project’s ecosystem expansion may contribute to long-term value accrual. Analysts caution that market-wide trends, such as renewed bullish sentiment in cryptocurrency markets, will play a critical role in determining whether FLOKI’s next rally materializes as rapidly as anticipated.

The article’s technical analysis emphasizes key thresholds to monitor: an RSI approaching 70 and a sustained MACD crossover could signal a shift in momentum. Additionally, the breakout from the pennant pattern suggests traders are positioning for further gains, though volatility remains inherent to meme tokens. While the analysis does not provide a formal price target, the combination of on-chain metrics and pattern recognition implies FLOKI could outperform broader market benchmarks in the near term [1].

References:

[1] [Floki Price Prediction: FLOKI Doubles in 30 Days – Next Rally Could Be Even Faster](https://cryptonews.com/news/floki-price-prediction-floki-doubles-in-30-days-next-rally-could-be-even-faster/)