Memes inspired by cryptocurrency, Floki has experienced a big comeback as market sentiments turn in favor of meme coins. In the previous day’s 24-hour trading volume for Floki skyrocketed to $347.78 million by rising by 13.63%. This is only one among many other meme coins that has witnessed this notable rise in traded volumes.
Today, FLOKI price is up by 5.05%, making it sell at $0.0001994 per coin. The increase in market capitalization of around $1.91 billion has been responsible for this price hike and currently positions Floki as the 52nd largest cryptocurrency with respect to its market cap.
Looking at the chart for FLOKI on a weekly basis, one can see that the crypto had gone up very high this week, showing an increase of 34.12% in seven days alone on its platform. Notably, during the last day FLOKI moved between a low of $0.0001863 and a high of $0.0002032, which is characteristic of volatile cryptocurrencies.
However, despite this move higher over the last week, it still stands 42.31% below its all-time high reached on June 5th when it traded at $0.0003462 as seen from broader fluctuations across the crypto space . The recent surge noted by investors and analysts have resulted in wild fluctuations such as these ones within a few months making them understand how unpredictable investing into any form of digital currency can be.
FLOKI could face strong resistance if it gets to $.0002 with $.00025 being a major hurdle for it as well as several other stocks meeting such oppositions had shown in the past before turning bearish or either consolidating their positions above support levels. Surmounting this point might give it some opportunity to climb towards $0.0003. In case the momentum is sustained, a move to $0.0005 cannot be ruled out.
On the downside, if FLOKI drops below $0.00019, it could still pull back towards its lower support line of $0.00018 from where a further decline may take it down to a crucial support level at $0.00017 indicating that the crypto could enter into bearish territory
The Moving Average Convergence Divergence (MACD) shows the signal line slightly above the MACD line, indicating bullish momentum. However, the histogram is near the zero line, suggesting the potential for consolidation or a shift in momentum if broader market conditions change.