Today, the FLOKI price has seen a substantial 21% surge amid market growth, with meme coins up an average of 4.82%. However, after undergoing a correction, it seems that FLOLKI is poised for further gains.
FLOKI has retraced slightly since its surge in the early hours of the morning, now sitting at a 13.08% gain over the past 24 hours.
This gain has further contributed to the 22.11% rise the FLOKI price has seen since last Monday, surpassing that observed from most other notable altcoins.
However, it has yet to fully recover from the 11.51% loss it has experienced over the past month.
Indeed, with this significant surge, trader interest in FLOKI is at a high. The coin’s trading volume has increased by 181.99% to $488.19 million over the past day.
FLOKI Price Retests Key Support Level – Is The Surge Over?
A closer look at the charts suggests that FLOKI’s correction is coming to a halt.
Most significantly, FLOKI’s relative strength index has fallen from 90 to 50 over the past 8 hours. This shift represents a transition from an overbought state to a more neutral one.
Such a sharp decline is typical of a correction, as FLOKI cools down in preparation for its next move.
Most significantly, after flirting with the $0.00017717 (orange) support level at the high point of the hour, Floki demonstrated resilience in holding above it.
This may serve as an indicator that the correction is coming to a halt, presenting the potential for further upside.
While these indicators set a good precedent for near-term price action, wider trends will provide the best insight into where the price is headed.
Most significantly, the 30DMA is on a steep incline, sitting comfortably above the 200DMA, which has adopted its uptrend.
This demonstrates that the short-term momentum is strong enough to influence the wider trend out of its recent sideways movement.
Meanwhile, the 30DMA has proven to be strong support, upholding the FLOKI price during its surge. Therefore, it is reasonable to expect more upside from Floki.
This New Meme Coin Has Higher Gains Potential
Although traders may want to cling to FLOKI for further gains, any truly substantial returns may be limited. FLOKI has already accumulated a substantial $1.70 billion market cap.
Although traders may want to cling to FLOKI for further gains, truly substantial returns may be limited due to its already established $1.70 billion market cap.
Therefore, traders looking to maximize their gains potential may find a strategic advantage in diversifying into newer low-cap meme coins set for explosive growth.
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This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.
It’s not just a memecoin, it’s a memechain! Something that may be credited to its instant success, raising over $3.5 million in its presale so far.
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This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer, allowing users to track all transactions on its unique chain.
At a temporary fixed presale price of $0.0084598, those who act quickly stand to benefit the most. Investors are currently earning an impressive 502% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
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The post FLOKI Price Soars 21% in 24 Hours: Is a Major Breakout Ahead? appeared first on Cryptonews.
