- The Floki (FLOKI) token is trading above the 200-day EMA.
- The annual inflation rate of tokens was 1.31%, which showed the stability of crypto’s purchasing power.
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 was released on June 23, 2021, it hit its all-time high price of $0.0003462 on June 05, 2024. The token urther declined by 55.5% from its all-time high price at press time.
The token’s trading volume further declined by 10% in the last 24 hours from the press time, resulting in a traded value of $246.721 Million. Despite this, the crypto market cap further advanced by 5.1%.
FLOKI token was 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 advanced by 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 has consistently formed lower lows, highlighting the dominance of sellers in the market. This downward trend has been exacerbated by bearish market sentiment and significant profit-taking by investors. This resulted in a substantial decline in the token’s value.
FLOKI dropped 70% from its swing high of $0.000348. Recent price action further underscores this bearish trend, with the formation of strong bearish candles on the chart, indicating that sellers remain firmly in control.
Moreover, the price has broken below key support levels, suggesting that further declines may be imminent. The continued pressure from bears points to the potential for the token to reach even lower levels in the near future.
Floki Token Technical Indicator Analysis
FLOKI had advanced 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 advanced above the 50-level and the 14-day SMA which showed 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.
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.
