- FLOKI breaks the Falling Wedge pattern with bullish structure and 200% upside potential.
- 87% of FLOKI held by whales as $18.78M in large transactions signal fresh accumulation.
- Upcoming ETP listing and Valhalla mainnet launch fuel price targets near $0.00027.
With $FLOKI’s trading volume showing strong breakout levels, the price has followed suit, breaking out of a long-standing Falling Wedge formation. Technical analysts now suggest that this breakout could signal the beginning of a broader upward move, with projections showing nearly 200% upside potential from current levels.
Technical Patterns and Indicators Support Bullish Structure
FLOKI has broken out of the Falling Wedge pattern that had been in place since late 2023. This structure is commonly seen before a reversal, and the current breakout has been supported by consistent higher highs and higher lows on the chart.
The asset recently tested the $0.00007500 level, which previously acted as resistance, and has now turned into a confirmed support zone. Short-term charts also show that FLOKI is trading within an ascending channel, suggesting ongoing bullish momentum. The RSI remains around 70.86, indicating overbought conditions, but still consistent with strong buying pressure. The MACD has shown a positive crossover, supporting the upward trend.
Volume has remained strong, with over 420 billion FLOKI traded in the last 24 hours. Analysts have linked this activity to whale accumulation and institutional interest, as noted by data shared on X by multiple crypto analysts.
Whale Activity and Upcoming Catalysts Drive Sentiment
According to on-chain data from IntoTheBlock, 87% of FLOKI’s total supply is held by large holders, reflecting a high level of concentration. This whale dominance often suggests strong backing but also introduces higher volatility. Transactions by these holders totaled $18.78 million over the past week, which analysts consider a sign of accumulation.
The upcoming launch of the Floki ETP on a major European stock exchange and the mainnet release of the Valhalla metaverse game are also contributing to market optimism. Analysts forecast that the price could move toward $0.00027 by the end of May 2025 if current momentum continues.
