Floki Inu Hits 5-Month High — Will It Survive or Plummet?
When Coinbase announced it would include Floki Inu on its roadmap, the meme coin’s price didn’t just react—it skyrocketed. Within just one hour, Floki shot up by 28%, jumping from $0.00022324 to $0.00028309 – marking Floki’s highest point in 5 months! But what does this sudden spike mean for investors, and what’s next for the token? While being added to Coinbase’s roadmap doesn’t guarantee a listing, it’s clear that the news was enough to trigger major excitement. Let’s dive deeper into the story.Floki Inu’s Strong WeekAlthough the Coinbase announcement triggered the surge, Floki Inu had already been performing well. Over the past week, its value nearly doubled. Currently, the token is holding at around $0.0002531, a critical support level. Floki has bounced off this price multiple times, showing strength despite the usual fluctuations in the crypto market.A Look at the Technicals During the surge, Floki’s Relative Strength Index (RSI) briefly crossed over 75, indicating that it was overbought. Since then, the RSI has cooled down to 58.85, suggesting that investors are taking a pause before the next move.From a technical perspective, Floki is in a strong position. The immediate support level is at $0.0002531, with another backup level at $0.00024594. The Average Directional Index (ADX) is at 34.02, indicating that the upward momentum is still intact, though it may be losing some strength.What Are the Whales Up To? Whale activity is also worth noting. According to Coinglass data, large investors are placing significant short orders above the current price and long orders below it. This suggests that Floki could experience a dip before potentially rising again.Floki Inu’s recent performance fits the trend of high-risk, high-reward tokens that are popular during the memecoin season. While the token may continue its upward momentum, signs of fatigue are starting to show, so investors should proceed with caution.For now, Floki Inu is in the spotlight. Will it maintain its gains or continue to rise? The next few days will reveal what happens next. We'd Love to Hear Your Thoughts on This Article!Was this writing helpful?