Elon Musk Reignites Floki Frenzy, Can FLOKI Hold Gains as Crypto Market Falls 3%?
Making a 6% weekly uptick, FLOKI not too long ago ripped increased after Elon Musk posted an AI-generated video of his Shiba Inu “Floki” sitting at a CEO desk, reigniting meme-coin danger urge for food even as the broader crypto market slipped 3%.
Within hours, FLOKI’s value jumped almost 30% and 24-hour quantity exploded 780–817% to roughly $656–$662 million, lifting the token to an intraday high close to $0.000088, its greatest degree in nearly two weeks.
Related Reading: All It Took Was A Tweet: FLOKI Jumps 27% After Musk Mentions It
Mentions throughout X, Reddit, and Telegram climbed 65%, whereas crypto’s Fear & Greed Index nudged from Fear (37) to Neutral (52), signaling recent retail participation. Dogecoin (DOGE) and Shiba Inu (SHIB) logged modest beneficial properties, however FLOKI led meme cash by a large margin.
Breakout Case vs. Bull-Trap Warnings
Technicians say FLOKI is retesting a pivotal demand band round $0.00008. A every day shut and maintain above $0.000075 retains the breakout thesis alive towards $0.00009, with $0.00010 on the desk if momentum and volumes persist.
Open Interest surged 162% to about $37.5 million, and long-side liquidations worn out $275K in shorts in the course of the squeeze. On Binance, adverse funding suggests crowded shorts paying to remain positioned, gasoline for additional upside if value grinds increased.
Still, some analysts flag bull-trap danger. The RSI tipped into overbought (>70) in the course of the spike, a zone that traditionally invitations cooling strikes; a fast reset again into the 50–70 band could be a more healthy springboard.
Liquidity “heatmaps” present dense clusters each above and beneath spot, implying two-way volatility as the value hunts orders earlier than selecting route. If FLOKI fails to reclaim/maintain $0.00009, technicians eye pullbacks towards $0.000072, with a deeper bear case pointing to $0.00004 if danger aversion returns.
Key FLOKI Levels as the Market Slips 3%
Currently, FLOKI hovers round $0.0000737, down 12% on the day, mirroring the broader market downturnwith Bitcoin close to $107,000 and Ethereum round $3,800.
In the close to time period, merchants are watching key technical ranges that would dictate FLOKI’s subsequent transfer. Immediate help sits between $0.000072 and $0.000070, with a deeper draw back danger towards $0.00004 if momentum fails to carry.
Related Reading: CryptoQuant’s Moreno Eyes Bitcoin At $195,000 If This Happens
The $0.000080 degree acts as the essential pivot level, a decisive shut above it might strengthen the bullish development and open the trail towards increased targets. On the upside, resistance lies at $0.00009, adopted by $0.00011 if shopping for quantity expands.
With liquidity skinny and sentiment nonetheless fragile after latest liquidations, celebrity-driven spikes can overextend shortly. However, if flows stay constructive, adverse funding persists, open curiosity stays elevated, and spot demand confirms, FLOKI’s rally might reignite, doubtlessly surpassing the psychological $0.00009 degree.
Cover picture from ChatGPT, FLOKIUSD chart from Tradingview
