- The volume activity of the Floki crypto has witnessed a decline.
- Floki has a very low supply inflation of -1.59%.
Floki crypto price performance is marked by volatility as its price is highly volatile, resulting in a volatility of 10.93% as per CoinCodex.
As per CoinMarketCap, the price of the Floki crypto has been trading at a level of $0.0001709. This resulted in a traded volume of $147.18M in 24 hours from press time.
The trading price of the Floki crypto has advanced by 380% in the last 1 year, which helped it outperform 83% of the top 100 crypto assets.
At press time, the market cap of the Floki is worth $1.631B, which makes it the 54th largest cryptocurrency in the global crypto market.
The Coincodex shows a bearish sentiment in the short term, while the fear and greed index has a score of 66, indicating greed among investors.
Derivatives Data Overview of FLOKI Crypto
The derivative traded volume for FLOKI crypto has declined by 21.5% in 24 hours, resulting in a traded value of $45.68M.
The liquidation data for the crypto further shows a surge in the long liquidation of the crypto, resulting in a long liquidation of $36.19K. Moreover, the short liquidation for the crypto is worth $8.64, which is nothing compared to the longs liquidated in the last 24 hours.
The value of the derivatives traded volume for the crypto has also declined by 21.5%, followed by a decline in open interest by 4.1%. This shows a decline in the total number of contracts in crypto over the last 24 hours.
FLOKI Crypto Technical Analysis
The FLOKI crypto was trading inside a symmetric triangle pattern, which indicated consolidation in the price followed by the formation of lower highs and higher lows.
At press time, the crypto price broke out above the pattern but lacked volume. Also, the crypto price has been unable to sustain the higher levels and has started to decline again.
FLOKI/USD Chart by TradingView
The RSI is hovering around the midpoint and is currently trading at a level of 47.5. It shows neutral momentum in the crypto price, but if it crosses above 50, it might continue to advance to higher levels.
The 50-day and the 200-day EMAs are trading in a golden cross, and the crypto price is currently trading at the 50-day EMA. If the price continues to surge, we might witness a strong uptrend.
The MACD is also neutral on the daily chart as the MACD and the signal line overlap and is currently trading at the midpoint of the indicator.
Summary
Despite a decline in volume activity, Floki crypto demonstrates resilience with a 380% surge in the last year, outperforming 83% of the top 100 crypto assets.
While derivatives trading volume decreased, long liquidations surged, indicating potential buying opportunities.
Technical analysis suggests a breakout from a symmetric triangle pattern, with bullish indicators like the golden cross and neutral RSI.
The immediate short-term support levels for FLOKI at the time of writing were $0.00000970 and $0.00001400. Despite this, if the price of the crypto further continues to rise, it might face resistance at the level of $0.0000360 and $0.0000470.
Disclaimer
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.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.