Floki (FLOKI) is the utility token and cryptocurrency of the Floki Ecosystem. Shiba Inu (SHIB) fans and members established a cryptocurrency inspired by (and named after) Elon Musk’s Shiba Inu.
By combining memes and functionality, Floki seeks to distinguish itself from other meme currencies. The long-term objective of the team is to build an independent and decentralized ecosystem that includes strategic alliances, token utility, and use cases for the Floki brand through NFTs, games, and decentralized finance features.
FLOKI is accessible as an ERC-20 token on Ether and as a BEP-20 coin on Binance Smart Chain.
When new tokens are issued on the Ethereum network, they must follow the ERC-20 token standard. Ethereum is a well-known blockchain and a popular choice for many decentralized applications. Because of its proof-of-work consensus technique, which requires miners to mine new Ether, Ethereum is one of the most secure blockchains in the crypto industry. A network of decentralized nodes secures and validates the Ethereum blockchain.
Floki Inu is presently trading at $0.000031119, a -0.7% decline from the previous day. Floki Inu, one of the cryptomarket’s top gainers, has risen 283.35% since the beginning of 2023, from a low of $0.000007899. The bullish rise resulted in the establishment of a yearly high of $0.000068137. After getting rejected, the price did not close over $0.00006 and entered a correction. The Floki Inu price attempted to increase beyond $0.00006 multiple times but was unsuccessful.
According to the current Floki Inu price forecast, the value of Floki Inu will fall by -10.70% and reach $ 0.00002189 by July 12, 2023. Our technical indicators indicate that the present attitude is Bearish, with the Fear & Greed Index reading 55 (Greed). Over the previous 30 days, Floki Inu had 16/30 (53%) green days and 9.80% price volatility. According to our Floki Inu forecast, now is not a good time to buy Floki Inu.
The price of Floki Inu is now below the 200-day simple moving average (SMA). Since July 04, 2023, the 200-day SMA has been signaling SELL for the previous two days.
Floki Inu’s price is now below the 50-day simple moving average, and this indicator has been signaling SELL for the previous 54 days, since May 13, 2023.
The most recent Bitcoin Death Cross occurred 194 days ago, on December 25, 2022. Meanwhile, the latest Golden Cross happened 159 days ago on January 28, 2023. According to our technical indicators, Floki Inu’s 200-day SMA will climb in the coming month and reach $ 0.00002861 by August 5, 2023. The short-term 50-Day SMA for Floki Inu is expected to reach $ 0.00002334 by August 5, 2023.
The bollinger bands have shrunk, indicating little price volatility. However, the Floki price has just been rejected by the 20-day EMA and is heading towards the lower band. In the previous 24 hours, the long/short ratio is 1.02, with 50.6% longs and 49.4% shorts, indicating that bulls are involved at the support level.
The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI is currently at 45.89, indicating that the FLOKI market is in a neutral state.
Moving averages are widely used in all financial sectors. A moving average (MA) is used to smooth price activity over a set period of time. Moving averages are a lagging indicator, which means that they are calculated based on prior price behavior.
An oscillator is a technical analysis tool that creates high and low bands between two extreme values before constructing a trend indicator that oscillates within these boundaries. It represents a neutral feature.
Floki Inu has support levels of $ 0.00002389, $ 0.00002317, and the strongest at $ 0.00002175, based on today’s traditional pivot point (P1) of $ 0.00002531. Similarly, the resistance levels for Floki Inu are $ 0.00002603, $ 0.00002745, and $ 0.00002817.
Support- $0.0000308 and $0.00002758 provide significant help.
Resistance- $0.0000351 and $0.0000380 are major resistance levels.
The general market structure and price movement for Floki Inu are bearish, however it has just formed a support at $0.0000308 level. The technical signs are pointing to the downside.
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