A popular crypto analyst predicts a significant drop for a trending memecoin.
With a strong following on social media, analyst Michaël van de Poppe warns his followers on X that Floki (FLOKI) could experience a major correction after surging more than 13 times in a short period.
“It has increased by 1,200% since the beginning of this run and has surpassed the previous high. The likelihood of a substantial correction is greater than a further climb. I would only consider it after a 30-40% correction, not at this point.”
A potential 40% correction could bring Floki down to $0.0002 from its current value of $0.000265, reflecting a 5% decrease in the last day.
Moving on to the smart contract platform Fantom (FTM), Van de Poppe suggests that the altcoin could revisit the $0.50 support level.
“Continuously forming lower highs and lower lows. It has tested the $0.60 support multiple times, indicating a possible breakdown. In that scenario, I have identified two areas of interest for swing trading in the near future.”
As of now, FTM is trading at $0.674, showing a decrease of almost 3% in the last 24 hours.
The final altcoin on Van de Poppe’s radar is the layer-1 protocol Sui (SUI). He anticipates a 40% increase in SUI’s price if it surpasses the immediate resistance at $1.17.
“SUI has been one of the strongest performers in the market. It has established a higher low and is aiming for $1.60 if the momentum leads to a breakout above $1.17.”
Currently, SUI is trading at $1.04, down nearly 5% for the day.
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