The FLOKI meme coin also benefited recent inflows into cryptocurrency markets, which resulted in many cryptocurrencies recording gains on both the 24-hour and seven-day time frames.

It is worth noting that this inflow caused FLOKI to break out of the falling trend line, which had been the peak of growth since June. This breakout is seen as a key technical development, and cryptocurrency analyst World Of Charts is highlighting it as a sturdy bullish signal. According to the analyst, the breakout opens a trend in which the meme coin will continue its trend towards a modern record high.

FLOKI ready for 200% growth above all-time record

Although FLOKI was launched in 2021, it rose to prominence earlier this year after surging 1,100% in five months to reach a modern all-time high of $0.0003449. As it stands, the value of the meme coin has corrected by approximately 55% from its record high.

However, according to the analysis and predictions of cryptocurrency analyst World Of Charts, this correction will end soon and the all-time high of $0.0003449 may not last for long.

World Of Charts shared its analysis on social media platform X, publishing the daily candlestick chart of the FLOKI/TetherUS trading pair. The chart shows that the meme coin has just broken above the bullish flag resistance trend line that the meme coin has been trading within since hitting an all-time high.

In terms of the expected price trajectory, the analyst believes that FLOKI is on track for another breakout that could not only surpass the previous all-time high but also head towards a price just below $0.0005. To reach this point, FLOKI would need to escalate by 210% from its current price level.

$Herds #Precipitate We finally break out. Send it towards the modern Ath🚀 https://t.co/I2sVnrx94X pic.twitter.com/LNsAHKe1Q0

— World of Charts (@WorldOfCharts1) October 19, 2024

Is a 200% rally possible for FLOKA?

At the time of writing, FLOKA is trading at $0.0001554 and is still up 12% over the last seven days. According to data from online analytics platform Santiment, FLOKI and other meme coins are enjoying the highest interest and mentions on social media platforms within five months. The reason behind this engaging trend is, among others, modern interest in Dogecoinwhich naturally influenced other meme coins.

Given this increased attention and the bullish technical setup highlighted by analysts, a 200% upside is very likely. FLOKI has already shown that it can achieve significant profits in a low period of time after growing an impressive 1,100% earlier this year. If the current social turmoil and market dynamics continue to favor meme coins, FLOKI could break through resistance levels and begin another surge to deliver a 200% upside before the end of the year.

According to another cryptocurrency analyst, FLOKI does aimed at an even greater 2100%, i.eescalate to $0.002.

Featured image from Lunu, chart from TradingView