Floki Price Prediction as FLOKI Plummets 28% From Peak – Is The Bull Market Over?
Today, the price of FLOKI has continued its downward trend, decreasing by 28% from its high of $0.000346, reflecting the overall downturn in the cryptocurrency market.
In the last 24 hours alone, FLOKI has seen a 7.25% drop, bringing its price to $0.000247 amid a wider market pullback.
Over the past week, FLOKI has registered a 5.29% decline, counteracting its significant monthly gain of 45.56%.
Despite this recent pullback, FLOKI has achieved an impressive annual return of 1,045.59%, surpassing major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
This exceptional performance underscores the strong and broad-based investor interest in FLOKI.
Furthermore, with a 9.44% increase in 24-hour trading volume to $448.2 million, FLOKI’s current momentum suggests the potential for a market rebound.
After a continuation of its dip this morning, it seems that the FLOKI price presents further downside potential.
Specifically, its relative strength index (purple) has dropped from 55 to 25 in the past 24 hours. This suggests that FLOKI is oversold, indicating it might be undervalued.
If FLOKI can successfully retest the $0.00001411 support level (grey) and decisively reverse upwards, it would indicate that the recent retracement was temporary.
However, if FLOKI breaks below this, it may mean that further downside is ahead.
This is credible as the 30-day moving average (yellow) is trending downward below the 200-day moving average (Blue) after a crossover last week. This suggests a continuation of a short-term downtrend, despite the long-term uptrend.
While FLOKI is influenced by its own fundamentals, it is also affected by broader market trends, especially as a meme coin.
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