Shiba

Rally

Pepe

FLOKI

Bonk

Over the last two weeks, the <a href="https://coingape.com/meme-coin/" rel="noopener noreferrer nofollow">meme cryptocurrency</a> sector has been outperforming the broader recovery trend of the market. The top assets like <a href="https://coingape.com/markets/dogecoin-price-aiming-1-as-rival-meme-coins-become-attractive/" rel="noopener noreferrer nofollow">Dogecoin</a>, Shiba Inu, Floki Pepe coin, Bonk and have witnessed triple-digit gains in this short but intensified upsurge. Will the Bitcoin price potential breakout from the $70000 barrier bolster this recovery further or is it time for a fresh correction?
Also Read: <a href="https://coingape.com/blog/solama-meme-coin-why-is-solama-price-pumping-by-1800/" rel="noopener noreferrer nofollow">Solama Meme Coin: Why is Solama Price Pumping by 1800%?</a>
<h2 id="strong-floki-s-rally-meets-resistance-potential-pullback-ahead-of-times-square-exposure-strong">FLOKI’s Rally Meets Resistance: Potential Pullback Ahead of Times Square Exposure</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/d/DIcFVyKl.png" alt="BINANCE:FLOKIUSDT Chart " width="1946" height="937">
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 FLOKI Price| Tradingview
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FLOKI, known as <a href="https://coingape.com/flokis-price-soars-following-massive-190-91b-token-burn/" rel="noopener noreferrer nofollow">Floki Inu</a>, is a cryptocurrency that combines the appeal of meme culture with utility in the blockchain space. This token has recently gathered the attention of investors with an aggressive rally which uplifted its trading value from $0.0000345 to $0.000236 within two weeks and registered 700% growth.&nbsp;
Amidst the ongoing enthusiasm for meme cryptocurrencies, Floki Inu’s value received an extra lift from its bold marketing campaign in New York City’s Times Square. The campaign, starting on March 15, is set to run for three months, placing <a href="https://coingape.com/floki-storms-times-square-with-major-marketing-push-amid-40-price-surge/" rel="noopener noreferrer nofollow">FLOKI</a> in the limelight at one of the most prestigious advertising arenas globally. This strategic move underscores Floki Inu’s efforts to carve out a prominent space for itself within the competitive crypto landscape.
However, the aggressive hit a major roadblock at $0.000218, evidenced by a long-wick rejection candle in the daily chart. This reversal reflects the profit booking from traders and a potential for a minor pullback for buyers to regain strength.
Also Read: <a href="https://coingape.com/trending/shiba-inu-vs-pepe-coin-where-should-you-invest/" rel="noopener noreferrer nofollow">Shiba Inu vs Pepe Coin: Where Should You Invest? </a>
<h2 id="strong-floki-faces-volatility-as-whales-unstake-7-14m-strong">$FLOKI Faces Volatility as Whales Unstake $7.14M</h2>
The on-chain data platform Lookonchain reported a 75% increase in the price of $FLOKI today, noting that whales have unstaked 30 billion tokens worth approximately $7.14 million in the past six hours of its tweet. The sell-off by these large holders likely contributed to the price volatility. Transaction details are traceable via the provided Ethereum blockchain addresses.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The price of <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FLOKI</a> increased by ~75% today!
 We noticed that whales started unstaking <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FLOKI</a> and selling for profits!
 6 wallets have unstaked 30B <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FLOKI</a>($7.14M) in the past 6 hours and are selling <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$FLOKI</a>.
 Address:<a href="https://t.co/llvmSsLbt7" rel="noopener noreferrer nofollow">https://t.co/llvmSsLbt7</a><a href="https://t.co/us2zSxajOH" rel="noopener noreferrer nofollow">https://t.co/us2zSxajOH</a>… <a href="https://t.co/yno9dtvxya" rel="noopener noreferrer nofollow">pic.twitter.com/yno9dtvxya</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1766161879905534311?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 8, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Thus, the potential pullback in <a href="https://coingape.com/price/floki-inu/" rel="noopener noreferrer nofollow">Floki price</a> may find suitable support at $0.00022, $0.000185, and $0.000156, coinciding with the Fibonacci retracement level, 23.6%, 38.2%, and 50% respectively.
<ul>
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The upward movement of the daily ADX beyond the 52% mark indicates that the current buying momentum might be nearing a point of saturation</li>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The fast-moving 20-and-50-day EMA slope may act as key pullback support for crypto buyers.</li>
</ul>
The post <a href="https://coingape.com/markets/floki-price-rally-may-stall-as-on-chain-data-major-unstaking/" rel="noopener noreferrer nofollow">FLOKI Price Rally May Stall as On-Chain Data Hints Major Unstaking</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

FLOKI Price Rally May Stall as On-Chain Data Hints Major Unstaking

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