The people’s crypto, and Elon Musk’s dog, Floki Crypto, is back in the spotlight after a little push from the man himself.
Well, not exactly an endorsement, but Elon definitely knows the power of his words. He posted an AI-generated video made by his new Grok feature that said, “Flōki is back on the job as X CEO!”
That single post was enough to send the FLOKI coin’s market cap from $660 million to over $800 million. The chart looked completely bottomed out before this move and had been stuck in a boring range for weeks. Knowing Elon’s track record, he will probably keep posting about his dog, and since memecoins live off hype, this could fuel more upside for FLOKI.
Unipcs (aka “Bonk Guy”), a well-known trader on Crypto Twitter who turned $1k into over $10M trading BONK before getting liquidated, has also started hyping FLOKI. He said, “If Elon acts the way he has in the past, he’ll likely fire off more Floki tweets in the coming hours, days, or weeks.”
Funding Rate Is Negative For Floki On Binance
Interestingly, funding for FLOKI on Binance has turned heavily negative, meaning short traders are paying a premium just to keep their positions open. “Would be a shame if they get blown out…” Unipcs added.
I agree with his take on both Elon’s posting habits and the funding situation. The FLOKI chart really looks bottomed out after sitting in a long accumulation zone for quite some time.
A look at Technicals For Floki Crypto: Watch For Breakout
If we look at the chart, forgetting that wick to zero thanks to Trump, we have a clean descending channel. Floki is currently trying to break out above this and finally end this downtrend spiral.
RSI’s flirting with 68—bulls are in control, but it’s getting hot. A quick cooldown might hit before the next Elon-fueled surge. That’s memecoins for you!
The main thing to watch right now is the upper channel resistance, and price is testing it as we speak. If FLOKI can break and hold above that level, it could run up toward the supply zone around 0.000016, where it’s been rejected before. But if it gets rejected again, it might just fall back into the channel.
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Key Takeaways
- Elon’s playful Grok post instantly pumped FLOKI’s market cap from $660M to $800M, showing his influence is still unmatched.
- FLOKI looks ready for a breakout as funding turns negative and RSI stays hot, signaling strong bullish pressure building up.
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