Investors in FLOKI, a popular meme coin, are closely monitoring its recent surge in social metrics. Despite a slight price correction, analysts suggest that the bullish trend might continue. The meme coin’s price broke out of a bullish flag pattern, indicating a potential rally.

AMBCrypto’s analysis of FLOKI’s daily chart revealed that after consolidating in a bullish flag pattern, the coin’s price surged, hinting at a possible return to its previous high in March. Social metrics also painted an optimistic picture, with over 48% of the market expressing positive sentiment towards FLOKI.

However, the coin’s value experienced a minor downturn according to CoinMarketCap, dropping by 1.5% within 24 hours. FLOKI was trading at $0.0001909 at the time. Despite this correction, experts believe it may just be a temporary setback before another bull rally.

High liquidation levels may have contributed to the recent price decline, with the meme coin’s liquidation soaring to $0.0002, leading to a subsequent drop in price. Nonetheless, Santiment’s data indicated that the downward trend may not be long-lasting, as the coin’s Funding Rate decreased while the MVRV ratio remained high, signaling a possible bullish trend.

Analyzing FLOKI’s Chaikin Money Flow and MACD, experts predict a potential bullish crossover in the near future. These indicators point to a likelihood of FLOKI’s price turning bullish again in the coming days. As investors anticipate the coin’s performance, all eyes are on whether the bull rally will indeed resume.