• Floki price is approaching the bottom of the rising trendline, a key support level from which it is likely to rebound.
  • On-chain data suggests that FLOKI’s development activity is rising, a bullish sign.
  • A daily candlestick close below $0.000193 would invalidate the bullish thesis.

Floki (FLOKI) price could experience a nearly 30% rebound in the short-to-medium term, according to technical indicators and on-chain metrics, as the meme coin heads towards a key level that has previously acted as a support and amid a rise in development activity.

Floki price seems set for liquidity sweep

Floki price crashed more than 10% on Tuesday as it broke its previous support level at $0.000258. Currently, its price is heading towards the bottom of the rising trend line, which has previously acted as support.

Floki price – and more broadly, the cryptocurrency market – is likely to be volatile ahead of today's US Consumer Price Index (CPI) release for May and the US Federal Reserve (Fed) decision on interest rates. These key events for financial markets could trigger Floki to sweep out buy-side liquidity before rallying upside.

  1. In such a scenario, Floki could first crash up to 14% from its current price level of $0.000233 to find support on the following levels.
  2. The support zone extending between $0.000221 and $0.000211.

The 61.8% Fibonacci retracement level at $0.000201, drawn from a swing low of $0.000110 on April 13 to a swing high of $0.000348 on June 5, which roughly coincides with the rising trendline.

If FLOKI bounces off $0.000201, it could rally 29% to reach its previous resistance level of $0.000258.

If the overall crypto market outlook is positive due to favorable US economic data release, Floki could extend the rally to its next resistance level at $0.0.000348, constituting an additional 35% gain.

FlOKI/USDT 4-hour chart

FlOKI/USDT 4-hour chart

Based on IntoTheBlock's In/Out of the Money Map (IOMAP), nearly 1,280 addresses accumulated 203.33 billion FLOKI tokens between $0.000226 and $0.000232, making this area a key support zone.

Interestingly, the $0.000221 to $0.000211 zone mentioned from a technical analysis perspective coincides with the IOMAP findings, making this zone a key reversal zone to watch.

FLOKI IOMAP chart

FLOKI IOMAP chart

Santiment’s Development Activity metric tracks the frequency of project development events recorded in the public GitHub repository over time.

A rise in this metric usually suggests continuous endeavors to uphold, innovate, and improve the protocol, which is generally seen as favorable by investors and stakeholders. Conversely, a decline in the metric might raise apprehensions about the project's endurance, capacity for innovation, and engagement with the community in the foreseeable future.

As in Floki’s case, the index rose from 0.476 on June 6 to 0.714 on June 11. The 50% rise in Floki's Developing Activity adds further credence to the bullish outlook.

FLOKI  Development Activity chart

FLOKI  Development Activity chart

Despite the bullish thesis signaled by both on-chain data and technical analysis, if the FLOKI daily candlestick closes below the May 20 low at $0.000189, the outlook will shift to bearish. This scenario could lead to a 16% crash to $0.000159, the swing low of May 13.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

How will BNB price react as Binance and Kraken delist USDT for EU countries?

How will BNB price react as Binance and Kraken delist USDT for EU countries?

On Monday, Binance officially discontinued spot trading pairs involving Tether’s USDT in the European Economic Area to align with the European Union’s Markets in Crypto-Assets Regulation. 

More Binance Coin News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bears target sub-$80,000 BTC, ETH 2-year lows, XRP yearly bottom

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bears target sub-$80,000 BTC, ETH 2-year lows, XRP yearly bottom

Bitcoin price is hovering around $83,000 on Friday after it failed to close above the $85,000 resistance level earlier this week. 

More Cryptocurrencies News
Crypto stablecoin legislation advances, but Democrats say Trump’s USD1 raises red flags

Crypto stablecoin legislation advances, but Democrats say Trump’s USD1 raises red flags

The US Congress began reviewing a Crypto Stablecoin bill on Wednesday. This comes a week after Trump-backed WLFI announced the launch of its USD1 Stablecoin pegged 1:1 to the US dollar. 

More Cryptocurrencies News
Solana extends decline amid upcoming $200 million unlocks

Solana extends decline amid upcoming $200 million unlocks

Solana declined 3% in Friday's early Asian session, impacted by an upcoming $200 million staked SOL unlock from four whale wallets, according to Arkham Intelligence.

More Solana News
Bitcoin: BTC remains calm before a storm

Bitcoin: BTC remains calm before a storm

Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP