Floki Inu Hits 5-Month High — Will It Survive or Plummet?

The post Floki Inu Hits 5-Month High — Will It Survive or Plummet? appeared first on Coinpedia Fintech News

When Coinbase announced its plan to include Floki Inu on its roadmap, the memecoin’s price soared. Within an hour, Floki shot up 28%, climbing from $0.00022324 to $0.00028309. That wasn’t just a spike—it was Floki’s highest price in five months. Even though being on Coinbase’s roadmap doesn’t guarantee a listing, it’s clear the news was enough to set off fireworks for Floki investors.

What Triggered This Massive Jump?

The announcement alone seems to have fueled the surge, but Floki Inu was already having a great week. Over the last seven days, it almost doubled in value. Right now, the token is holding steady at around $0.0002531, a critical support level. It’s bounced off this zone multiple times, showing resilience despite the crypto market’s usual ups and downs.

But here’s the thing: the Relative Strength Index (RSI) went over 75 during the surge, which means Floki was overbought. It’s since cooled down to 58.85, hinting that investors are taking a breather before the next move.

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What the Charts and Whales Are Saying

From a technical perspective, Floki inu is standing on solid ground. Its immediate support is at $0.0002531, with another backup level at $0.00024594. As for the trend strength, the Average Directional Index (ADX) sits at 34.02. That’s a good sign—it means the upward momentum is still there, although it’s slightly losing steam.

Interestingly, whale activity suggests something brewing. Coinglass data shows whales are placing significant short orders above the current price and long orders below. Translation? A dip might happen before another upward swing.

What to Expect

Floki Inu’s recent performance mirrors the memecoin season trend. With investors flocking to high-risk, high-reward tokens, Floki could maintain its upward momentum. However, its current trend is showing signs of fatigue, so caution is key.

For now, the spotlight stays on Floki Inu as it navigates this exciting phase. Will it hold its gains or take another leap forward? The next few days will tell.