Can FLOKI Hold on to its Recent Price Surge?
- FLOKI spiked by 0.53% in the last 24 hours, trading at $0.0001562.
- The meme coin maintains the neutral sentiment in the market.
The dog-themed meme coin, FLOKI, is struggling to regain its lost strength, over the past 24 hours, the meme coin has briefly recovered by 0.53%. The meme coin market displays mixed signals of the bull-bear feud.
FLOKI showcased a bullish sentiment as the day opened, climbing from the low of $0.0001517 to the high of $0.0001587. At the time of writing, FLOKI traded at $0.0001562 with a market cap of $1.49 billion. Despite the spike in the meme coins price, the daily trading volume has declined by around 20.50% to $480 million, as per CMC data.
On the other hand, a Social Intelligence Company, LunarCrush stated that the meme coin, FLOKI was stealing the spotlight this week, with its social dominance surging to 1.55%, nearly doubling the weekly average of 0.85%.
FLOKIs Brief Bullish Rally
Zooming in the monthly price chart, FLOKI was considerably down by over 12%, which started trading at $0.0001735 and dived to the low of $0.000101. Over the past week, the meme coin has recovered from the monthly dip, noting an increase of 12.80%, which hit a weekly high of $0.0001601.
Flokis one-day price chart reveals an optimistic outlook. If FLOKI maintains its upside momentum, the meme coin could target the initial resistance at $0.00016854. Whereas, if the bears sustain, the price might retrace to $0.00014005.
Examining the technical indicators, FLOKI displays the short-term 9-day Moving Average at $0.00014719 and the long-term 21-day MA at $0.00013155. Whereas, FLOKIs daily Relative Strength Index (RSI) stands at 60.85, suggesting a neutral market sentiment.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
