FLOKI is back in the spotlight with another bullish breakout, and traders are now watching for a possible 40% surge. After nearly doubling in value in its last major move, the memecoin has broken out of a second falling wedge, a setup often seen before strong upward runs.
At the moment, FLOKI is trading at $0.0001094. Its 24-hour trading volume is slightly down by 6%, sitting at $99.19 million. But the market cap tells a different story, rising 4% to $1.04 billion. This suggests that, despite short-term dips in volume, investor confidence is growing.
40% bullish run possible after the FLOKI breakout
According to chart watchers from World Of Charts, FLOKI’s previous breakout led to a massive 2x jump. Now that it has completed another wedge pattern and pushed upward again, many are eyeing a similar result, this time targeting a 40-45% rally.
Backing up that sentiment, another crypto analyst, Professor Astrones, shared that he also expects strong upward momentum to follow this breakout. This kind of price action has started to attract more attention from short-term traders looking for the next leg up.
In addition, this new breakout comes at a time when memecoins in general are making a comeback. FLOKI’s recent price moves and growing on-chain activity put it among the top performers in its category.
FLOKI activity stays strong as OI climbs
On the data side, things are also looking positive. FLOKI’s open interest, a measure of how much money is tied up in active futures contracts, is up 5.57% and currently stands at $48.49 million.
This is often seen as a sign that more traders are stepping in, expecting bigger moves ahead. Meanwhile, the total trading volume is only down slightly by 1%, now at $137.29 million, showing that activity is still strong overall.
With key technical levels now cleared and momentum building, FLOKI could be setting up for another impressive run. Traders will be keeping a close eye on price action and volume over the coming days to see if this rally has real staying power.