Floki Price Prediction as FLOKI Reaches $2 Billion Market Cap – Time to Buy?
The Floki price has declined by 2% in the past 24 hours, slipping to $0.0002274 as the crypto market as a whole gains by just over 1% today.
FLOKI has now fallen by 9% in a week and by 25% in the past fortnight, yet the meme token remains up by a very impressive 420% in the last 30 days.
This caps a year in which the coin has also gained by nearly 600% and passed a $2 billion market cap, and with the market returning to growth in the past couple of days, it could continue rising into the weekend.
Despite Floki’s decline today, its chart gives the impression that it could rebound soon.
Most notably, its relative strength index (purple) has spent the past couple of days below 50, if not lower.
This means that traders have been overselling it recently, and that it should rise sooner or later.
It’s also significant that FLOKI’s 30-day average (orange) fell below its 200-day (blue) earlier this morning, a sign that the token could bottom soon and resume rising.
One thing that is concerning, however, is that FLOKI’s trading volume is still quite low, at $340 million today.
This represents an 85% drop in relation to volumes witnessed in early March, when the coin reached $0.000260 and upwards.
It’s therefore safe to say that demand remains a little low, with whales and larger traders neglecting FLOKI at the moment.
The price of $FLOKI increased by ~75% today!
We noticed that whales started unstaking $FLOKI and selling for profits!
6 wallets have unstaked 30B $FLOKI($7.14M) in the past 6 hours and are selling $FLOKI.
Address:https://t.co/llvmSsLbt7https://t.co/us2zSxajOH… pic.twitter.com/yno9dtvxya
— Lookonchain (@lookonchain) March 8, 2024
In fact, the most recent data on whale FLOKI transfers involved a number of wallets unstaking their
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