- Market analyst Javon Marks projects Floki Inu is poised for a major breakout.
- Increased mid-level investor interest supports a bullish outlook for FLOKI.
- Historical patterns show Floki Inu’s resilience during market corrections, indicating growth.
Market analyst Javon Marks recently shared his projections on Floki Inu in an X post, noting that the cryptocurrency is on the verge of another breakout. As Marks highlighted, past breakouts have always led to huge price increases, which has led him to expect another huge upside move in the near future.
“$FLOKI (Floki Inu) looks to be pushing towrads yet another breakout and each of its previous breakouts have led into some major upside moves! Another significant climb could be in the works here…”
According to Marks’ analysis, the FLOKI meme coin has been building up a series of symmetrical triangles, a technical pattern that often signals price consolidation ahead of a price break. His charting reveals where similar patterns led to a decisive price breakout to the upside before, reinforcing the possibility of another breakout.
Zooming out the current price action, Floki Inu is heading toward the ‘top’ of its most recent triangle formation. In history, whenever the price approaches such a critical point, the asset tends to experience a breakout in either direction.
This view is backed by Marks’s observation that the breakout is likely to result in a strong up-move in value, as seen in 2023 and 2024 when the cryptocurrency saw an instant jump in price following every consolidation phase. Marks further points out that chart spikes at volume are an important indicator.
This is due to the increasing trading volume during previous breakouts, which aligns with the possibility of another surge in buying interest. High trading volume is essential in predicting price moves, as it usually means that the market sentiment is strong and could work towards a more profound rally.
Whale Dominance Signals Optimism for Floki Inu
According to on-chain data from IntoTheBlock, the past trend of Floki Inu’s historical holders’ concentration indicates a clear dominance shift from whale addresses (shown on the pink line). This implies the market sentiment is shifting to an optimistic outlook. Besides, whale activity, often a trigger for major price movement, has increased, aligning with Marks’s expectation of a breakout.
With the whales holding a large portion of the token, their ability to influence FLOKI’s market value upwards, especially if the buying spree persists, remains higher. In addition, the second chart that depicts Floki Inu addresses by holdings shows an increase in addresses holding between 1 million and 10 million of FLOKI.
This paints a positive market sentiment and shows increasing interest from mid-level investors. Historically, the price of FLOKI has a strong correlation with increasing wallet concentration on all these ranges, implying more price movement upwards in the future.
Moreover, a considerable peak of the price spike appreciated in the middle of 2024 in both charts also points to the fact that Floki Inu has had the capacity to endure market corrections and have a resounding comeback. With the token still on track to another key point in its cycle, heightened whale activity and fast-rising mid-range holdings paint the overall picture of a bullish continuation.
