FLOKI Traders Eye October 22 for Possible Breakout Pattern

• October 22 is a critical date when FLOKI historically breaks out from consolidation patterns.
• FLOKI’s potential for major gains is often signaled around October 22 each year, based on past trends.

According to prominent crypto analyst Master Kenobi, FLOKI’s journey began on July 5, 2021, when the token saw a tremendous climb over 112 days, resulting in a staggering 92x ROI.

However, after this skyrocket surge, FLOKI experienced a bear market, with its price falling by 98.5% over 224 days and hitting bottom earlier than many other cryptocurrencies.

#FLOKI Master Plan

The #FLOKI chart starts on July 5, 2021, when it experienced a spectacular rise over 112 days, reaching an impressive 92X. Afterward, a bear market followed, and after 224 days of decline, #FLOKI found its bottom, with a 98.5% correction, well ahead of other… pic.twitter.com/ZgAs3H93n2

— Master Kenobi (@btc_MasterPlan) October 3, 2024

FLOKI: Predictable Consolidation and October Breakouts 

Following this rapid drop, Kenobi believes he has partially understood the pattern of growth. He observed three purple rectangles with the same height but different lengths while reviewing FLOKI’s price charts. These rectangles depict periods of consolidation in which the FLOKI price moves within specific bounds.

Kenobi recognized that price changes within these rectangles are predictable, which he represented by highlighting critical accumulation zones with a red rectangle.

One particularly noteworthy component of this pattern is that FLOKI often emerges from these consolidation periods around October 22nd each year. Following this breakthrough, the price does not revert to the previous low but rather enters a new period of consolidation before making another strong upward rise.

For example, after escaping the consolidation rectangle on October 24, 2022, FLOKI experienced an 11x rise in just 112 days. Similarly, following the next breakout on October 24, 2023, the token experienced a 22x rise in 133 days.

Kenobi underlines the possibility of this pattern continuing, noting that the next “magical” day, October 22nd, is only a few weeks away. If the pattern continues, FLOKI might go through another consolidation phase before a potential price increase.

Beside that, a prior report from CNF, which highlighted FLOKI’s confirmation of a big breakout, has supported this speculative potential. The meme coin might experience a 163% increase, which has sparked big investor interest.

The increasing institutional support and open interest in FLOKI suggest that the token may be primed for a rally in the near future.

Meanwhile, as of this writing, FLOKI is trading at $0.0001344, down 2.71% over the last 24 hours, with a daily trading volume of $136.91 million.