- FLOKI’s price has risen by 23% in the past 24 hours.
This rally comes after Bitcoin surged past $70,000.
As a seasoned crypto investor with a few years under my belt, I’ve seen my fair share of market volatility and memecoin rallies. However, the recent surge in Floki’s [FLOKI] price has piqued my interest due to its timing in relation to Bitcoin’s [BTC] rally past $70,000.
As a memecoin analyst, I’ve noticed an impressive double-digit growth in Floki’s [FLOKI] value within the last 24 hours. This surge can be attributed to Bitcoin’s [BTC] remarkable climb above the $70,000 price point.
At present, the memecoin is being traded at a price of $0.00033, marking a significant 23% increase over the previous 24-hour period.
During the assessment period, FLOKI was the sole meme asset in the top five based on market capitalization according to CoinMarketCap, experiencing over 10% price increase.
FLOKI enjoys high social activity and whale attention
In the last 24 hours, there has been a significant increase in FLOKI‘s trading transactions, resulting in a substantial surge in trading volume. The trading volume reached an astounding $1.2 billion, marking its highest point since May 29th, based on Santiment’s recent data.
Social media buzz surrounding FLOKI reached new heights, as evidenced by a significant increase in its social influence according to Santiment’s analytics.
The given measurement represents the proportion of conversations pertaining to a particular asset, in relation to the overall discourse about the 100 most valued assets based on market cap.
At present, FLOKI‘s social influence was at approximately 0.98%, and it was found that almost 1% of talks surrounding the leading 100 digital currencies revolved around this memecoin.
This showed some level of interest in FLOKI compared to others.
During the reviewed timeframe, I noticed a significant increase in large-scale investor involvement with FLOKI, which was evident from the uptick in whale transactions.
As a researcher studying transaction data from Santiment, I’ve discovered that there were 86 FLOKI transactions worth over $100,000 in the previous 24-hour period. This figure represents a significant increase of 115% compared to the 40 such transactions that occurred on 4th June.
Poised for more growth
As a crypto investor, I closely follow AMBCrypto’s analysis for insights on various coins’ performance. Their evaluation of FLOKI‘s crucial technical indicators suggested that this meme coin might experience further growth in value within the near future.
As I delved into the financial data, I noticed the Relative Strength Index (RSI) for FLOKI was on an uptrend and registered a value of 71.94 at the time of my analysis. This observation implied that there had been more buying activity than selling in the market for this particular asset.
Realistic or not, here’s FLOKI’s market cap in DOGE terms
Affirming the rising interest in the meme token FLOKI, its Chaikin Money Flow (CMF) indicator remained positively above the threshold at 0.06.
This metric measures the trend of funds moving in and out of a token’s market. A positive CMF score implies a robust market, signaling more money flowing in than out.
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2024-06-05 12:07