Floki Nears Key Support as Sellers Take Control
Key Takeaways
The price of Floki (FLOKI) is in a downtrend and approaching a critical support level at $0.00002650. This level has played a significant role in the past and could determine the future price movement. Technical indicators suggest weak buying pressure, while the majority of FLOKI holders remain in profit.
FLOKI in a Downtrend – Key Support in Sight
After a prolonged sideways trend, FLOKI has experienced a significant price decline. The price is moving towards the support zone between $0.000024 and $0.000036, where approximately 5,900 wallets hold a total of 4.57 trillion FLOKI. This zone could play a crucial role, as it has previously triggered strong buying activity.
Technical Indicators Show Weak Buying Pressure
The Chaikin Money Flow (CMF), an indicator measuring capital flow, is currently at -0.06. This suggests that sellers are dominating the market and liquidity is decreasing. If the CMF continues to decline, it could indicate a continuation of the downtrend. Conversely, an increase in the indicator could signal the beginning of accumulation, which may stabilize the price or even initiate a recovery.
Historical Price Movements as a Guide
In the past, a drop to the $0.00002650 level led to a strong price rally of over 900%. If the price reaches this level again, buyers may step in and trigger another upward movement. However, a break of this support could lead to further losses, pushing the price towards $0.00002250 or lower.
Profitability of FLOKI Holders
Current data shows that 57.79% of FLOKI tokens are “In the Money,” meaning they were purchased below the current price. This indicates that the majority of investors remain in profit, which could reduce selling pressure. At the same time, 41.44% of tokens are “Out of the Money,” meaning these investors are at a loss. If the price continues to decline, this could lead to increased selling activity.
Our Assessment
The coming days could be crucial for FLOKI. The support zone at $0.00002650 has proven to be an important turning point in the past. If buying interest increases again, the price could stabilize or even begin a recovery. However, a break of this level could lead to further losses. Investors should closely monitor price movements and watch for signals indicating a potential trend reversal.
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| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.20 |
| 24h % | 7.07 % |
| 7d % | -4.03 % |
| 30d % | -14.00 % |
| 60d % | -47.13 % |
| 1y % | 1.55 % |
| Market Cap | $29,871,602,037.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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