NAIROBI (CoinChapter.com)— Floki Inu skyrocketed over 26% after Coinbase announced plans to add the token to its roadmap. Inspired by Elon Musk’s Shiba Inu, the token hit a five-month high, reigniting investor enthusiasm.
Token Jumps 26% as Coinbase News Fuels Market Buzz
Floki Inu surged by over 26% after Coinbase announced it was adding the token to its roadmap, a move that often precedes exchange listings. This rally saw Floki Inu’s price reach $0.0002643, bringing it closer to its recent high of $0.0002815.
The token has rallied nearly 70% over the past month and 45% this week alone, driven by Coinbase’s decision and bullish sentiment across the crypto market. Floki’s market cap now sits at $2.51 billion, placing it on the brink of joining the top five meme coins by valuation.
Make-or-Break Moment: Will Floki Shatter Resistance?
Floki Inu is testing a critical resistance zone for the fourth time, a level that often signals explosive upward moves. According to InvestingHaven, $0.0002815 is the key barrier to break, with price targets projected at $0.000775, $0.00127, and $0.00281 if bullish momentum continues. Support at $0.000122 remains crucial to sustaining its current uptrend.
The Relative Strength Index (RSI) shows the market has reset after overbought conditions, creating space for another rally. Meanwhile, the Average Directional Index (ADX), currently at 34.02, suggests moderate momentum, with potential for acceleration if resistance is breached.
Moreover, CryptoBullet noted that this reaccumulation phase could lead to a strong price move. The analyst pointed to three possible targets for Floki—$0.000775, $0.001270, and $0.002810—indicating different levels of potential growth.
Rise To The Moon expects a Coinbase listing to push Floki’s price beyond $0.0005 in the short term, while InvestingHaven sees reclaiming the all-time high (ATH) as essential for sustaining its bullish outlook through 2024. Additionally, a breakout could drive the token toward long-term targets, but failure to clear resistance may result in a retest of the $0.000122 support level. Above all, traders are watching closely as Floki Inu reaches this critical point.
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