- Historical data showed that similar MVRV ratios led to substantial price increases.
- The 1,140 addresses that bought 35.97 billion tokens at $0.00016 might provide a solid support.
As an experienced analyst, I believe that Floki (FLOKI) is currently undervalued based on its MVRV ratio and historical price action. The memecoin’s 30-day MVRV ratio of -36.34% indicates that the current price is notably lower than the average value holders purchased within a 30-day window, making it an attractive opportunity for buyers.
As a crypto investor, I’ve noticed from AMBCrypto’s analysis that Floki (FLOKI) has reached a point where there’s potential for even greater price growth than what we’ve recently experienced.
I’ve observed that at the current moment, Floki’s price is sitting at $0.00017 on the market. This represents a noteworthy surge of 10.12% within the past 24 hours.
As a researcher, I’ve discovered that the MVRV ratio, an abbreviation for Market Value to Realized Value, may hold the key to understanding this prediction. This ratio represents the relationship between the current market value of an asset and the total amount of profits or losses realized from previous transactions involving that same asset.
Employing the market-cap-to-realized-cap ratio as a measure, this indicator reveals the profitability level of cryptocurrency investors.
Hope remains for FLOKI
The 30-day MVRV ratio of FLOKI, as of now, indicates that the token is currently undervalued to the tune of 36.34%.
The current price represents a significant discount compared to what investors paid on average during the past thirty days.
If they choose to sell at this point, they will incur a loss. Consequently, many holders are probably hesitant to sell.
As a researcher, I’ve noticed that the current price presents a potential buying opportunity based on the historical trends of this memecoin. Its past performance suggests a bias towards lower prices in the future.
In the final week of February, FLOKI‘s MVRV ratio stood at a negative 18.73%. Surprisingly, the token’s price spiked from $0.000036 around this time. By the opening week of March, its value had risen to $0.00015 in the markets.
During that period, the profit growth surpassed 300% for market players. In the month of April, the ratio dipped to a negative figure of -41.79%. At that particular point in time, the price was set at $0.00013. However, just weeks later, the value spiked up to $0.00024.
Based on the token’s historical behavior in comparable scenarios, there is a strong possibility of it continuing to rise. If FLOKI follows this trend, its value might surge by as much as 100% over the next month.
If the situation remains unchanged, the price of FLOKI could potentially reach $0.00034. In the absence of significant market corrections during this timeframe, there is a possibility that the memecoin may even exceed its previous record high.
Support is key
To determine whether FLOKI can progress according to the prediction, AMBCrypto examined the IOMAP (In/Out of Money Around Price) chart.
Examining the group of addresses that bought a specific cryptocurrency at a particular price point can help market participants identify potential resistance or support levels.
As of the current moment, our analysis at AMBCrypto revealed that approximately 1,140 different wallets had bought a total of 35.97 billion FLOKI tokens, with an average purchase price of about $0.00016 per token. Conversely, around 760 distinct wallets acquired a total of 125.24 billion FLOKI tokens, each paying roughly $0.00017 for their tokens.
At a price of $0.00016, having a greater number of addresses holding the token could function as a protective barrier, potentially keeping the price from significantly dropping.
Read Floki’s [FLOKI] Price Prediction 2024-2025
As a researcher, I would express this as: “Furthermore, there’s a possibility that the price might surge up to $0.00019 initially due to the current situation.”
If purchasing demand rises, the worth of FLOKI may rise accordingly. If it follows the pattern set in March, its value could potentially hit $0.00034.
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2024-06-26 11:51