Floki Price Prediction as FLOKI Drops 4% Overnight – What’s Going On?
Floki Inu has fallen by 4% in the past 24 hours, with the FLOKI price sinking to $0.0001929 as the wider crypto market sees a very slight 0.5% dip today.
While FLOKI is up by 2.5% in a week, it has now declined by 30% in a week, although the popular meme coin has posted a 460% increase in the last 12 months.
This is very impressive performance, and with FLOKI remaining popular among retail investors and whales, it could easily see a recovery in the coming weeks.
This is particularly the case when the market is waiting on a possible surge, which could coincide with the next Bitcoin halving on April 20.
One encouraging feature of FLOKI’s chart is that it has bounced a little in the past hour, after dropping earlier this morning.
This could mean that it has bottomed out as far as its recent decline is concerned, a claim which receives some tentative reinforcement from its support line (green).
It’s also notable that FLOKI’s 30-day average (orange) has reached what looks like a bottom in relation to the 200-day (blue), implying that the coin has entered an oversold position and is ready to rebound.
Having said that, FLOKI’s trading volume remains largely lowkey at $150 million, whereas it rose as high as $2 billion in early March.
What we can take from this is that whales have yet to return to the meme token, despite having pumped it vigorously in the weeks preceding its last big surge.
$FLOKI: It seems that price is still in a wave-iv correction. Ideal target for wave-C is the 100% Fib extension level at $0.000137.
A break above $0.000266 would be the first sign that wave-iv already has bottomed. pic.twitter.com/RSt5KjF9bi
— Man of Bitcoin (@Manofbitcoin) April 12, 2024
Yet given that the coin has been down for several weeks now, it
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