With the price structure showing signs of recovery and trading volumes increasing, market observers are speculating whether FLOKI could follow a trajectory similar to Dogecoin’s historic run during previous bull cycles. Recent analysis from crypto influencers and key metrics may offer insight into the possibilities ahead.

Floki Approaches 200-Day EMA as Momentum Builds

According to a recent post by Honey (@honey_xbt) on X, FLOKI is currently approaching a critical technical level on its daily chart: the 200-day Exponential Moving Average (EMA200). The analyst noted that FLOKI is “flirting” with this level and suggested that a successful break above the EMA200 could initiate a strong upward move.

Historically, the EMA200 serves as a long-term trend indicator, and a close above it often signals a trend reversal after extended periods of consolidation or decline.

Source: Honey via X

The daily chart supports this perspective, showing a steady recovery from FLOKI’s local bottom in April 2025. The price has been making higher lows and higher highs, which typically suggests the beginning of a new uptrend. Currently consolidating just below the EMA200, FLOKI may be preparing for a potential breakout.

A close above this moving average could attract technical traders and algorithms, leading to an acceleration in price movement toward projected targets near 0.00018–0.00022 USDT, levels that align with previous resistance zones. However, failure to confirm above this level could result in additional consolidation or a temporary pullback.

Strong 24-hour Performance and Liquidity Signals Support

Floki’s recent 24-hour performance has also contributed to renewed interest. The price rose by 6.38%, reaching $0.0001044, according to market data. Trading volume surged to $198.3 million, while the token’s market capitalization crossed the $1 billion threshold.

Price action showed an early dip followed by a steady rise and midday peak before a minor correction and stabilization. This sequence suggests sustained buying pressure throughout the trading day, a positive sign for short-term sentiment.

Source: BraveNewCoin

The correlation between volume spikes and price movement indicates that the price increase was supported by strong market participation rather than isolated speculative trades. High trading volume close to the asset’s market cap typically suggests increased liquidity and higher investor confidence.

Floki currently ranks 100 among cryptocurrencies by market capitalization and has over 9.6 trillion tokens in circulation. The project’s ecosystem—spanning metaverse gaming (Valhalla), DeFi applications, NFTs, and educational platforms—adds layers of potential utility that may support further growth beyond short-term speculation.

Weekly Chart Indicators Suggest Early-Stage Reversal

On the weekly timeframe, FLOKI price movement indicates a shift from a prolonged downtrend to early-stage recovery. The token is currently trading at approximately 0.00010728 USDT, marking a 7.07% increase for the week.

A series of higher closes in recent weeks reflects building momentum and potential for a sustained trend reversal. The price structure shows consistent support forming just below the 0.00009 level, which has provided a base for the current upward movement.

Source: TradingView

Technical indicators on the weekly chart further reinforce this view. The Relative Strength Index (RSI) has risen to 50.49, signaling a return to neutral momentum territory after a long period of weakness. An upward-sloping RSI trend indicates increasing strength among buyers and suggests room for further upward movement before reaching overbought conditions.

The Bull-Bear Power (BBPower) indicator has turned positive, currently reading 0.00002082, which may reflect the transition from distribution to accumulation. This marks the first significant positive print in weeks and suggests a possible beginning of a new upward cycle.

While resistance remains near the 0.00020 level, the current combination of technical indicators and price structure points to a growing likelihood of continued bullish activity. Volume confirmation and broader market sentiment will be essential in determining whether FLOKI can sustain its recent gains and build toward higher targets.

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Filed under: Bitcoin - @ May 23, 2025 8:12 pm