Renowned crypto analyst predicts a significant drop for a popular memecoin that has been on fire lately.

With a following of 720,500 on X, analyst Michaël van de Poppe warns that Floki (FLOKI) could experience a serious correction after its impressive 13x surge in just a few months.

“Since the beginning of this rally, it has soared by 1,200% and surpassed its previous high with a liquidity sweep. The chances of a major correction are higher than further gains. I would only consider getting in after a 30-40% drop, not at this point.”

Van de Poppe suggests that a 40% correction would bring Floki down to $0.0002 from its current value of $0.000265, marking a 5% decline in the last 24 hours.

Moving on to Fantom (FTM), the analyst believes this altcoin could revisit the $0.50 support level.

“Continuously forming lower highs and lows, FTM has tested the $0.60 support multiple times, indicating a potential breakdown. I have identified two key areas for swing trading in the near future.”

As of now, FTM is trading at $0.674, down nearly 3% in the past day.

The final altcoin on Van de Poppe’s watchlist is Sui (SUI), a layer-1 protocol that he sees potentially surging by almost 40% if it breaks through its immediate resistance at $1.17.

“SUI has shown strength in the market by forming a higher low and is aiming for $1.60 if it can break above $1.17 with momentum.”

Presently, SUI is trading at $1.04, marking a nearly 5% decrease on the day.

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