A popular crypto analyst predicts a significant drop in the value of a trending memecoin.

With over 720,500 followers on X, analyst Michaël van de Poppe warns that Floki (FLOKI) could experience a major correction after skyrocketing by more than 13 times in just a few months. Van de Poppe notes that Floki has surged by 1,200% since the beginning of its run and recently surpassed its previous high with a liquidity sweep. He suggests waiting for a 30-40% correction before considering investment.

If Floki corrects by 40% from its peak, it could drop to $0.0002. Currently, Floki is valued at $0.000265, showing a decline of over 5% in the past day.

Shifting focus to Fantom (FTM), Van de Poppe anticipates the altcoin revisiting the $0.50 support level. He observes a pattern of lower highs and lower lows, indicating a possible breakdown from the $0.60 support. Van de Poppe identifies two potential areas for swing trading in the near future.

At present, FTM is trading at $0.674, experiencing a decrease of almost 3% in the last 24 hours.

The analyst also highlights the potential of Sui (SUI), a layer-1 protocol, to surge by nearly 40% if it surpasses its immediate resistance at $1.17. Van de Poppe praises SUI as one of the top performers in the market, noting its higher low and the possibility of reaching $1.60 with strong momentum above $1.17.

SUI is currently valued at $1.04, showing a decline of nearly 5% for the day.

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