Elon Musk Reignites Floki Frenzy, Can FLOKI Hold | Crypto News
Making a 6% weekly uptick, FLOKI lately ripped increased after Elon Musk posted an AI-generated video of his Shiba Inu “Floki” sitting at a CEO desk, reigniting meme-coin risk urge for food even as the broader crypto market slipped 3%.
Within hours, FLOKI’s price 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 best degree in virtually two weeks.
Related Reading: All It Took Was A Tweet: FLOKI Jumps 27% After Musk Mentions It
Mentions across X, Reddit, and Telegram climbed 65%, while crypto’s Fear & Greed Index nudged from Fear (37) to Neutral (52), signaling recent retail participation. Dogecoin (DOGE) and Shiba Inu (SHIB) logged modest positive aspects, but FLOKI led meme cash by a huge margin.
Breakout Case vs. Bull-Trap Warnings
Technicians say FLOKI is retesting a pivotal demand band around $0.00008. A daily close and maintain above $0.000075 retains the breakout thesis alive toward $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 during the squeeze. On Binance, damaging funding suggests crowded shorts paying to keep positioned, fuel for additional upside if price grinds increased.
Still, some analysts flag bull-trap risk. The RSI tipped into overbought (>70) during the spike, a zone that traditionally invitations cooling strikes; a fast reset back into the 50–70 band can be a more healthy springboard.
Liquidity “heatmaps” show dense clusters both above and below spot, implying two-way volatility as the price hunts orders before selecting direction. If FLOKI fails to reclaim/maintain $0.00009, technicians eye pullbacks toward $0.000072, with a deeper bear case pointing to $0.00004 if risk aversion returns.
Key FLOKI Levels as the Market Slips 3%
Currently, FLOKI hovers around $0.0000737, down 12% on the day, mirroring the broader market downturnwith Bitcoin close to $107,000 and Ethereum around $3,800.
In the close to time period, merchants are watching key technical ranges that might dictate FLOKI’s next transfer. Immediate help sits between $0.000072 and $0.000070, with a deeper draw back risk toward $0.00004 if momentum fails to maintain.
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 close above it will strengthen the bullish pattern and open the trail toward increased targets. On the upside, resistance lies at $0.00009, adopted by $0.00011 if shopping for quantity expands.
With liquidity skinny and sentiment still fragile after current liquidations, celebrity-driven spikes can overextend shortly. However, if flows stay constructive, damaging funding persists, open curiosity stays elevated, and spot demand confirms, FLOKI’s rally might reignite, doubtlessly surpassing the psychological $0.00009 degree.
Cover image from ChatGPT, FLOKIUSD chart from Tradingview
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