FLOKI Token (FLOKI) Price Prediction 2023-2024: Will FLOKI Rise Again?

The FLOKI crypto price volatility was high (15.37%) as per analysts, which shows that the price might have higher fluctuations at certain times. The token sentiment was further bullish.

FLOKI crypto price showed a high volatility (15.37%) as per analysts, which suggests that the price might show higher fluctuations at certain times. The token sentiment was further bullish.

FLOKI was launched on June 23, 2021, and it attained its all-time high price of $0.0003462 on June 05, 2024. The token further declined by 55.5% from its all-time high price at press time.

FLOKI token’s trading volume further declined by 10% in the last 24 hours from the press time, which resulted in a traded value of $246.721 Million. Despite this, the crypto market cap further advanced by 5.1%.

FLOKI token was ranked as the 52nd largest crypto in the global cryptocurrency market. Moreover, the market cap value of the token was $1.488 Billion, which further resulted in a volume/market cap ratio of 16.53%. This showed that crypto has excellent liquidity, making buying and selling it easier.

Floki Token Derivatives Data Analysis

The value of the derivatives traded volume for the Floki token showed a rise of 7.1% in just the last 24 hours from the press time.

Following the slight advance in the traded volume, an advance of 6.7% in the open interest of the token was recorded. This resulted in a value of $14.98 Million, which showed an advance in the number of open positions in the derivatives.

Additionally, a larger amount of shorts were liquidated in Floki, which resulted in a value of $41.16K. Also, longs worth $7.24K were liquidated, showing that bears dominated, resulting in a long/short ratio of 0.8965.

FLOKI Token Technical Analysis

The daily price chart of the Floki token showed a consistent formation of lower lows, highlighting the strong presence of sellers in the market. This downward trend was further supported by bearish market sentiment and significant profit-taking by investors, which led to a substantial decline in the token’s value.

FLOKI dropped 70% from its swing high of $0.000348. Recent price action further underscored this bearish trend, with the formation of strong bearish candles on the chart, indicating that sellers remained firmly in control.

Moreover, the price had broken below key support levels, suggesting that further declines may be expected. The continued pressure from bears pointed to the potential for the token to reach even lower levels in the near future.

Floki Token Technical Indicator Analysis

FLOKI had crossed above the 200-day EMA while the 50-day and the 200-day EMAs traded in a death cross. This exhibited uncertainty in the token’s price action.

FLOKI/USD Chart by TradingView on

The MACD and the signal line formed a golden cross while both the metrics traded in the negative trajectory. The RSI also had crossed above the 50-level and the 14-day SMA which showed a strong surge in token’s bullish momentum.

FLOKI might take support at the level of $0.0000280 and $0.0000910 followed by the resistance levels of $0.000240 and $0.000320.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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