With the crypto market in recovery, meme coins like Dogecoin and Shiba Inu are expected to start seeing major upside due to their hype-driven nature. However, these two leading meme coins seem to have grown too big for investors’ appetites, leading investors to smaller meme coins for better gains. One such meme coin, FLOKI, has been gaining ground as one of the top meme coins that could see a major rally soon as the stars begin to align.
FLOKI Gearing Up For 300% Surge To ATHs
In an X (formerly Twitter) post, crypto analyst $SHIB KNIGHT pointed out an interesting formation on the FLOKI price chart. According to the analyst, the meme coin is already setting up for a major move after forming a Bullish Falling Wedge pattern on its weekly chart. Historically, the formation of this bullish falling wedge pattern signals that a bottom has been reached and it’s time for a move up.
In addition to this bullish formation on the FLOKI price chart, there is also the fact that the meme coin has been putting in higher lows lately. This began after it hit a low just above $0.00006 following the price crash that rocked the crypto market over the last month. Since then, there have been some pullbacks, but the meme coin has not fallen below this bottom.
If this bullish pattern holds and the crypto market maintains its uptrend, then the analyst predicts an over 300% rally for the FLOKI price. At the time of writing, the meme coin’s price is still trending just above $0.00008, but the crypto analyst sees it exploding to as high as $0.0004 once the breakout is complete.
The FLOKI price all-time high is $0.0003462, reached back in June 2024, according to data from CoinMarketCap. Therefore, a rise to $0.0004 would mean a new all-time high, making it one of the best candidates among the leading meme coins in terms of returns.
The Meme Coin For Max Gains
Just like $SHIB KNIGHT, another crypto analyst, The Crypto Express, has called out FLOKI as a meme coin that could start rallying soon. The analysis pointed to a breakout of the descending broadening wedge pattern with significant volume, showing a lot of interest in the meme coin.
With this newfound bullish momentum and the 50-day Moving Average (MA) providing support for the meme coin, FLOKI looks ready to explode. The analyst explained that if a successful retest of this breakout level above $0.000084 is confirmed, then it could signal a continuation of the breakout.
In the same vein, another analyst, Cryptorphic, paints a bullish rally to $0.00011533 following the breakout of a falling wedge structure. Once reached, this target would form the next resistance to beat in the campaign for new all-time highs.
Featured image from Dall.E, chart from TradingView.com
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