FLOKI increases by over 25%, while PEPE and DOGE catch up!

Like the price of Bitcoin gains some momentum, memecoins have set up a nice upward trend. While the most popular ones struggle to attract attention, FLOKI leads the rally with a jump of over 25%, followed by BONK with over 10%. SHIB and WIF also show some strength, while DOGE and PEPE see marginal gains.

Now the question arises: can this move be considered the start of Memecoin Mania?

THE FLOKI Price is trading with huge bullish influence as the token has stayed ahead towards its ATH. With an uptick in market strength, sentiments shifted from neutral to optimistic, which triggered the rally. The token completed a parabolic curve and the latest rise triggered a rise in the neckline. However, now that the price has climbed without a retracement, the bulls are expected to face extreme exhaustion before taking another step forward.

Meanwhile, the overall picture suggests a diversified price action, in which FLOKI is expected to reach new highs above $0.0004.

The daily chart suggests the possibility of a retracement, but after remaining high for some time. Furthermore, the weekly chart hints at likely highs at $0.0004, which could trigger a pullback as previously suggested. The reason behind this speculation is the formation of a cup and cove that could be made at these levels. This trend is widely considered bullish and a breakout is therefore widely expected, supported by StochRSI, which has just rebounded from the lower range.

Collectively, FLOKI appears to have taken the lead among memecoins, as other popular coins follow the trend. Therefore, the price is expected to maintain a strong upside and reach the 1.2 FIB levels, which may attract bearish forces for some time. Nevertheless, after a minor consolidation, FLOKI price may retain its $0.00004 level and continue heading towards new highs.

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