Floki Surges 44% but Correction Likely Ahead

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The Essentials at a Glance
Floki (FLOKI) recently reached its highest level in two months. The price rose by 14% in a single day, trading at 0.000084 USD. At the same time, there was strong activity among so-called “whales” – large investors who hold significant amounts of a cryptocurrency. Despite the price rally, selling movements dominated, suggesting a possible correction in the near future.
Floki on the Rise: Price Development and Trading Volume
Over the past week, FLOKI increased by 44.27%. On a monthly basis, the gain amounts to 14.77%. Trading volume surged by 104.98% to 213.5 million USD. Open interest – the total of all open derivatives positions – also rose by 28.3% to 35 million USD. FLOKI’s market capitalization reached 792 million USD.
Whale Activity Increases Sharply
Data from IntoTheBlock shows that the number of whale transactions increased by 185.7% to 20 transactions, the highest value in two months. During this period, large investors purchased 61.22 billion FLOKI tokens. However, they also sold 71.62 billion tokens. As a result, the net inflow of whales fell to -10.4 billion tokens.
Spot Market Indicates Selling Pressure
In the spot market – the direct trading of cryptocurrencies – the net inflow remained positive, reaching 2.1 million USD. This means that more coins were deposited onto exchanges than withdrawn, usually a sign that investors intend to sell. Overall, it shows that the selling side is currently stronger than the buying side.
What Does This Mean for the FLOKI Price?
The current price rally appears speculative and is less based on fundamental developments. If the current momentum continues, FLOKI could rise to 0.000090 USD in the short term and then target 0.00010 USD. However, a correction is likely. A pullback to around 0.000072 USD would then be possible.
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Our Assessment
If you are invested in FLOKI or considering it, you should closely monitor the current market situation. The strong selling activity of whales and the behaviour in the spot market point to an uncertain phase. Short-term gains are possible, but the risk of a rapid price decline remains high. Focus on good risk management and only invest what you are willing to lose.
Sources
– IntoTheBlock
– AMBCrypto
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