- Floki saw a bullish crossover emerge on the MACD and Stoch RSI.
- Floki has gained by 4.17% over the past 24 hours.
For the last month, FLOKI has been under significant selling pressure, dipping as low as 0.00014.
Over the last day, there has been some activity indicating revival for the memecoin. Currently, Floki is being traded at $0.000166, representing a 4.17% growth as depicted in the daily price charts.
Over the identical timeframe, its trading activity significantly increased by approximately 61.4%, reaching a total of $231.7 million. Given the rise in value for this meme-based cryptocurrency, it might suggest a possible shift in market trends following an extended downturn.
Can Floki finally recover?
Based on AMBCrypto’s assessment, Floki demonstrated a robust upward trend with investors returning to the market.
Initially, we notice an increase in positive trend following the bullish move by Floki as indicated by the crossover at two key points. This bullish crossover is visible on its Moving Average Convergence Divergence (MACD), implying that the upward momentum appears to be growing more robust.
This is further confirmed by another crossover that occurred on the Stoch RSI two days ago.
Upon closer observation, it appears that the whales (large investors) have been particularly active recently. This is suggested by a significant increase in large transactions, which has spiked by 122% over the last 24 hours. This surge continues a trend of heightened whale activity that has persisted for the past week.
It appears that large investors, often referred to as “whales,” are aggressively buying up the memecoin, as suggested by the increased trading activity and a positive trend in the market (bullish crossover).
Furthermore, the Net Value to Transaction (NVT) ratio, considering transaction volume, has fallen into the negative territory, suggesting a possible market bottom. Precedent indicates that when the NVT ratio reaches such levels, it is often followed by an uptick in price.
When there’s a prolonged decrease, it often indicates that the market is overbought, providing potential buyers with chances to buy back at reduced costs.
Ultimately, it appears that Floki’s MVRV indicator could be pointing towards an upward shift. Over the last couple of days, the MVRV value has increased to 2.5 from 2.2.
Historically, when Memcoin’s MVRV falls below 2.5, it often suggests a possible price increase due to investors purchasing the coin at reduced costs, thereby pushing the prices upward.
Realistic or not, here’s >FLOKI’s market cap in BTC’s terms
In summary, as the cryptocurrency market is showing optimistic signs, Floki suggests a possible recovery might be on the horizon.
It appears that the value of this meme-based coin might have reached its lowest point for now, suggesting a possible change in direction. If this prediction continues, Floki may regain its previous value of about $0.00018. But if sellers take control again, the price could drop to around $0.00015.
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2025-01-17 10:15