Floki Hits 7-Day High, Will It Hit New ATH?

Story Highlights

  • Floki saw an upsurge to $0.000196, hitting a 7-day high
  • Breakout above $0.0002 may attract  new investors
  • Flokis TVL and active addresses have also soared to a large extent
  • With the substantial bullish range of technicals, the price may elevate to a new all-time high. 

The crypto market saw a drop in April, a sizable one since August 2023. However, the bulls woke up to correct the charts with green candles, giving hope for a new rally in May. While meme coin season, even after 4 months, is still at the foothill to burst more, Floki inu ( FLOKI) can make it to the list of top crypto of May 2024 with a significant increase in active wallets in 2 weeks and foreseeing other events. 

Additionally, the daily charts are intriguing for the FlOKI, forming good price action in the upcoming sessions. The growing anticipation among investors is creating a buzz again in the market, and investors are eager to see the next events.

Surging TVL and Active Addresses Grab Attention 

Floki’s March month was dramatic. The memecoin killed a zero, recorded a yearly high, and entered a correction phase at the end of March. A downturn has been seen since mid-March, forming a parallel pattern. 

Amid of the downturn, May started with positive sentiment FLOKI’s active wallets surged 30% in the past 2 weeks, in 24-hour and 7-day frames. This rise could be a potential fundamental to continue the price trend. 

Source: Sentiment 

Also, the TVL on Floki locker soared 71% from 15.02 m USD in March to 25.72 m USD in May 2024. 


Floki Techncihal Analysis 

Floki’s at the time of writing is $0.000192, trading in bullish momentum. The market cap rose to 16.30%, and the 24-hour trading volume rose to a whopping 34%, to $285,564,622. A break above the resistance of $0.0002 indicates a positive trend while attracting new investors.

Floki markets is currently facing high volatility of 5.88%, with RSI at 63, just above the signal line suggesting a relatively stable price movement. The MACD is slightly positive with an upward pressure. However, if bears take control FLOKI may drastically result in major sell-offs. 

The SMA signals are on strong buy mode with price trading 200-day SMA, the Cross overs for 20-day and 50-day stand bullish too. This could be an opportunity to enter the FLOKI for investors who missed the previous rally, while all the signals are semi-bullish caution should be exercised as the market may face corrections.  

Related posts

Bullish on BONK and Meme AI? Make Smarter Choices in Tech Investing

EdaFace Admin

‘Mad Money’ Host Jim Cramer Urges SEC to Crack Down on Crypto Pump-and-Dumps

EdaFace Admin

The FTX-Tether Connection has been Questioned

EdaFace Admin

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More