- FLOKI price is currently reflecting 40% returns during the monthly trading session.
- Moving averages suggest a strong bullish signal in the current phase.
- DWF market maker purchase FLOKI to support the ecosystem.
Floki (FLOKI) is a meme coin and a utility token in the crypto world backed by the memecoin community. In honor of Elon Musk’s dog named Floki, the community behind this crypto is Floki Vikings. Floki Inu is currently working on various utility projects that can help this cryptocurrency become more than a memecoin. This approach toward utility can make a positive impact on investors and memecoin lovers.
DWF Labs to Purchase Viking Floki Crypto Tokens!
DWF offers trading spot and derivative markets on the top 60 exchanges. It is a Web3 investor and market maker, one of the largest crypto trading entities.
A recent post from the @DegenerateNews X account mentioned that the DWF market maker is about to purchase $12 Million Ethereum memecoin $FLOKI to support the Floki ecosystem.
This can attract many people toward this memecoin project and can help its ecosystem grow. Another great news for Floki Vikings has been updated recently, in which the @DegenrateNews X account posted another tweet.
Per the tweet, FLOKI flipped SUI in terms of market cap. This is good news for community members and and memecoin investors.
Price to Volume and Social Dominance Analysis
The rise in tweets about Floki crypto rose after April 15, demonstrating a noticeable positive behavior. That day the social sentiments covered 0.29% dominace, influencing a bullish reversal in price also.
Technical Analysis of Floki (FLOKI/USD)
The long term outlook implies above the key exponential moving averages (EMAs) on the bullish side. The price has crossed the 50-day EMA in recent sessions, indicating the uptrend continuation.
FLOKI price has given a breakout at $0.000175 from a trendline forming below. The price showed almost 78% bullish rally to the $0.000312 level and faced resistance. At press time, the price is getting bullish reaction from the $0.000240 immediate level, reflecting a bullish outlook above $0.000312 based on current market trends and price analysis.
The relative strength index (RSI) shows an internal bearish divergence in the price momentum. The death crossover between the RSI and the SMA line indicates the increasing bearish strength. The RSI is moving at 61.47 below the SMA line.
Summary
FLOKI price has shown strong bullish performance since April 16, 2024. The memecoin price has recorded an over 160% bullish rally since then. The recent post from @DegenerateNews also showed the positive side of Floki projects and growth. At present, the price reflects a bullish outlook for Floki crypto based on prrice analysis.
When writing, the immediate resistance for FLOKI was $0.000312 while $0.000175 was the next support. The price reflects a bullish outlook above the upper resistance.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
