Floki's 30% Price Surge May Be Short-Lived as Experts Warn of Collapse
Floki's recent price surge of over 30% in a week has raised hopes among traders, but experts warn that it may be short-lived.
Currently trading at $0.0000263, Floki is sitting near its 200-day SMA, which is acting as a ceiling rather than a launchpad. The momentum profile is flattening, and volume is collapsing, indicating that the rally may not have legs.
The correlation between BTC and FLOKI is tight, and if BTC loses $77,000, Floki's entire weekly rally could be called into question. Historically, when a meme-coin reclaims its 200-day after a sustained downtrend, it can indicate a turning point, but it also marks the beginning of either a real rally or an expensive head-fake.
The immediate setup is bearish, with resistance above being unfriendly and a genuine wall at $0.0000297-$0.0000300. A clean daily close above this level on expanding volume would flip the narrative decisively bullish, but missing it could lead to a drift back toward the 50-day SMA.