The popular memecoin Floki (FLOKI) is showing signs of a strong recovery, with crypto analyst Bluntz forecasting new all-time highs (ATH) in the coming months. Leveraging Elliott Wave Theory, the analyst suggests that FLOKI has completed its ABC correction phase and is now poised for significant upside movement.

FLOKI’s Price Poised to Double

Bluntz’s analysis highlights FLOKI’s potential to reach $0.0004 by March 2025, a leap of more than 100% from its current price of $0.00017. This projection adds to the optimism surrounding the token, which has gained traction thanks to its active ecosystem and robust community support.

“The charts look incredibly bullish for FLOKI. I firmly believe ATH is inevitable this cycle,” Bluntz stated on X.

DXY Decline as a Bullish Signal for FLOKI

The analyst also pointed to the U.S. Dollar Index (DXY) as a key factor influencing risk assets like cryptocurrencies. The DXY recently hit a major resistance level at 108 and appears to be reversing its trend. Bluntz predicts a drop to 99 in 2025, which could signal increased appetite for riskier investments.

“When DXY weakens, it often correlates with a bullish phase for crypto,” Bluntz explained. A falling DXY historically creates favorable conditions for memecoins and altcoins, including FLOKI, as investors diversify into digital assets.

What This Means for Investors

With the completion of its correction phase and a potentially favorable macroeconomic backdrop, FLOKI could be entering a new growth cycle. The combination of strong technical indicators and external market conditions sets the stage for a promising rally.

While the potential upside is enticing, investors should approach FLOKI and other volatile assets with caution. Market conditions can shift rapidly, and it’s essential to conduct thorough research before making investment decisions.

This article is for informational purposes only and does not constitute financial advice.