World

FLOKI

Coin

Gains

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/floki-coin-gains-attention-with-recent-performance/" data-wpel-link="internal">FLOKI Coin Gains Attention with Recent Performance</a> 
FLOKI, was one of the standout meme coins in March. Recently, it broke out of an upward formation, providing profits to <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and drawing significant attention. Opinions suggest the trend might continue, potentially reaching new highs in the coming days. However, data indicates bears are entering FLOKI, possibly signaling a trend reversal. 
<h2 style="text-align: justify" id="floki-coin-analysis">FLOKI Coin Analysis</h2> 
A statement from World Of Charts, a well-known name in the crypto world, drew attention. The analyst shared a tweet showing the outlook after the upward trend in FLOKI. To clarify, the <a href="https://en.coin-turk.com/dogwifhat-price-increases-by-34-in-a-week/" data-wpel-link="internal">memecoin</a> broke its upward formation in mid-May. 
Before the breakout, the memecoin’s price went through a consolidation phase for several weeks. Following this period, FLOKI achieved an 80% profit. This indicated that many FLOKI investors were in profit. 
According to data from IntoTheBlock, 99% of investors were “still in the money,” suggesting their portfolios were positive. However, data from the last 24 hours indicated a potential reversal. CoinMarketCap data showed the memecoin’s price rose only 0.5% in the last 24 hours. 
As of the time of writing, FLOKI had a market cap of 2.96 billion dollars and was trading at 0.0003122 dollars. 
<h2 style="text-align: justify" id="will-floki-drop">Will FLOKI Drop?</h2> 
Data from Santiment showed that despite the recent price correction, weighted sentiment remained high. This clearly indicated that bulls dominated the market. Additionally, FLOKI’s social volume also increased. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-360047" src="https://coin-turk.com/wp-content/uploads/2024/06/floki-1-coin-turk-com.png" alt="" width="930" height="312"> 
Looking at most other on-chain data, a different picture emerged for FLOKI. The data suggested a potential trend reversal. For example, the MVRV ratio remained positive. The NVT ratio also saw a noticeable decline. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-360048" src="https://coin-turk.com/wp-content/uploads/2024/06/floki-2-coin-turk-com.png" alt="" width="932" height="314"> 
The decline in the NT metric indicates the asset’s value remained low, suggesting a potential price increase in the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. Additionally, the memecoin’s network growth increased last week, indicating more new addresses were created to transfer the token. 
FLOKI’s daily chart showed its MACD reflecting a bullish trend once again. The Bollinger Bands indicated that FLOKI’s price was significantly above the 20-day Simple Moving Average (SMA). 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-360049" src="https://coin-turk.com/wp-content/uploads/2024/06/floki-3-coin-turk-com.png" alt="" width="936" height="480"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/floki-coin-gains-attention-with-recent-performance/" data-wpel-link="internal">FLOKI Coin Gains Attention with Recent Performance</a></h5>

FLOKI Coin Gains Attention with Recent Performance

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