FLOKI Signals a Memecoin Market Revival, But Can It Sustain the Momentum?

The past week has marked a turning point for the memecoin community, which has struggled to attract investors amid a preference for less volatile

After a period of favoring less volatile assets, investors are showing renewed interest in memecoins. FLOKI, in particular, has experienced a 22% surge over the past week.

The broader crypto market faced challenges in mid-December, with Bitcoin’s downturn impacting both high and mid-cap assets.

However, prior to that, altcoins surged as BTC approached $99k, leaving meme tokens behind.

Fast forward to the final week of Q4, and the memecoin market is making a comeback, with a bullish green chart and talk of a potential ‘supercycle.’

For FLOKI, the journey continues as it remains far from recent highs.

Priced at $0.0001800 at press time, FLOKI is still significantly below its recent highs near $0.000300.

While the recent uptick offers hope, FLOKI will need sustained momentum to return to profit territory and fully restore investor confidence.

The stakes are high – Around 12,000 addresses are holding 307 billion FLOKI tokens, purchased at an average price of $0.000259, and they’re all underwater right now.

Source: IntoTheBlock

These holders are undoubtedly watching closely, putting pressure on FLOKI to deliver a substantial rebound. In fact, some analysts predict a potential 50% upside, which could push FLOKI to $0.00027, but that’s not going to be an easy feat.

High consistency would be required

Looking at FLOKI’s daily price chart, it’s clear that the token has maintained a relatively consistent price action.

However, when it comes to the memecoin market, market psychology plays a huge role. This space is known for its volatile swings, and FLOKI is no exception.

Right now, about 72% of FLOKI’s total supply is concentrated among a small group of large holders, collectively controlling around 7.17 trillion coins.

These whales are clearly playing the short-term game, aiming to pocket quick profits.

Realistic or not, here’s FLOKI’s market cap in BTC’s terms

So, while an uninterrupted surge to $0.00030 might sound tempting, it’s likely too optimistic. A more achievable short-term target could be $0.000260, if the right conditions line up.

That said, don’t expect a memecoin rally to happen overnight. Whales are known for swooping in at a discount and then selling at a premium – if that pattern continues, the $0.000260 level could face resistance, triggering a potential sell-off.

With so much at stake, the next few days will be pivotal for FLOKI and the broader memecoin market.