Convergence

FLOKI

Million

Divergence

Instead of following yesterday’s 12% price rally, the <a href="https://coingape.com/price/floki-inu/" rel="noopener noreferrer nofollow">FLOKI price</a> is on a complete U-turn, as it declined earlier in the day. FLOKI took a major decline as its price dropped from $0.0002846 to the current value of $0.0002646. The drop came as a sudden surprise as the earlier DWF labs investment announcement should have favored the gains for this meme coin. Instead, the price continued on the downtrend initiated earlier after setting the week high.
In this blog, let us discuss why the FLOKI price is declining and what is coming next.
<h2 id="analyzing-the-floki-price-performance">Analyzing The FLOKI Price Performance</h2>
FLOKI is on a similar trend as of March, where its price surged to $0.0002964, the best it had in two years. However, the surge didn’t last long, and the price dropped throughout April. But with recovery in market conditions, FLOKI attempted the same and rose even higher to $0.0003085 before declining today.
<a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/floki-inu/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/06/image-99-1.png" alt="FLOKI Price Analysis" width="635" height="398"></a>
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This decline comes after the stock market tumbled, which had a significant impact on the crypto industry as well. A few assets, including the FLOKI, faced a sudden decline despite the greedy sentiments of the market.
Amid all these declines and barriers, FLOKI has maintained its position in the crypto market and is the sixth biggest cryptocurrency with a market cap of $2.52B. As for now, the 24-hour trading volume is at $659.92M, still rising after the 16% hike. This continuous surge in network activity might help the FLOKI price to regain upward momentum.
<h3 id="what-s-coming-next-for-floki">What’s Coming Next For FLOKI?</h3>
Though the FLOKI price is on the decline, the technical indicators have a different story to tell. Mainly, FLOKI is in the buying zone due to the <a href="https://coingape.com/dwf-labs-commits-12-million-to-floki-tokens-whats-the-catch/" rel="noopener noreferrer nofollow">DWF lab’s $12 Million Investment</a> plans in the FLOKI. This single announcement has increased the buying pressure on this meme coin, as the organization has planned to help the FLOKI with liquidity and support its upcoming expansion plans.
<blockquote>
 DWF LABS TO PURCHASE $12,000,000 IN FLOKI TOKENS TO SUPPORT THE FLOKI ECOSYSTEM
 As a testament to its unwavering support for the <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Floki?src=hash&amp;ref_src=twsrc%5Etfw">#Floki</a> Ecosystem, DWF Labs will purchase $12,000,000 in <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> tokens. A portion of the tokens will be acquired from the market, and the rest will be… <a rel="noopener noreferrer nofollow" href="https://t.co/z2kHiUgAdc">pic.twitter.com/z2kHiUgAdc</a>
 — FLOKI (@RealFlokiInu) <a rel="noopener noreferrer nofollow" href="https://twitter.com/RealFlokiInu/status/1797901116245471522?ref_src=twsrc%5Etfw">June 4, 2024</a>
</blockquote>
The simple and exponential moving averages at all the levels are in the strong buying zone. Favoring the same <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">Moving Average Convergence Divergence (MACD)</a> level is also in the buying zone.&nbsp; Moreover, the <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">Relative strength index</a> data is above 60, indicating the upcoming price surge for the meme coin.
With the new investment and the bullish technical signs, FLOKI Inu might succeed in a quick recovery once the overall crypto market lifts.
Continue Reading <a href="https://coingape.com/trending/4-most-promising-cat-themed-meme-coins-to-buy-today/" rel="noopener noreferrer nofollow">4 Most Promising Cat-Themed Meme Coins To Buy Today</a>
The post <a href="https://coingape.com/trending/whats-happening-with-floki-price-recovery-or-fall-next/" rel="noopener noreferrer nofollow">What’s&nbsp; Happening With FLOKI Price? Recovery or Fall Next?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

What’s Happening With FLOKI Price? Recovery or Fall Next?

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