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Floki Price Prediction as FLOKI Plummets 28% From Peak – Is The Bull Market Over?

Harvey Hunter
Last updated: | 2 min read
Floki Price Prediction as FLOKI Plummets 28% From Peak – Is The Bull Market Over?

Today, the price of FLOKI has continued its downward trend, decreasing by 28% from its high of $0.000346, reflecting the overall downturn in the cryptocurrency market.

In the last 24 hours alone, FLOKI has seen a 7.25% drop, bringing its price to $0.000247 amid a wider market pullback.

Over the past week, FLOKI has registered a 5.29% decline, counteracting its significant monthly gain of 45.56%.

Despite this recent pullback, FLOKI has achieved an impressive annual return of 1,045.59%, surpassing major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

This exceptional performance underscores the strong and broad-based investor interest in FLOKI.

Furthermore, with a 9.44% increase in 24-hour trading volume to $448.2 million, FLOKI’s current momentum suggests the potential for a market rebound.

FLOKI Price Bounces From Support Level – Is The Bull Market Over?

After a continuation of its dip this morning, it seems that the FLOKI price presents further downside potential.

FLOKI Chart with Technical Analysis. Source: Binance.

Specifically, its relative strength index (purple) has dropped from 55 to 25 in the past 24 hours. This suggests that FLOKI is oversold, indicating it might be undervalued.

If FLOKI can successfully retest the $0.00001411 support level (grey) and decisively reverse upwards, it would indicate that the recent retracement was temporary.

However, if FLOKI breaks below this, it may mean that further downside is ahead.

This is credible as the 30-day moving average (yellow) is trending downward below the 200-day moving average (Blue) after a crossover last week. This suggests a continuation of a short-term downtrend, despite the long-term uptrend.

While FLOKI is influenced by its own fundamentals, it is also affected by broader market trends, especially as a meme coin.

Roaring Kitty’s recent $350 million unrealised loss in GameStop stock might trigger increased activity in meme coins, contributing to negative market sentiment.

This follows the buzz created by Roaring Kitty’s return, which sparked significant meme coin growth.

More importantly, tomorrow’s release of the US CPI reading for June will significantly impact crypto market prices. 10x Research cited a CPI inflation rate of 3.3% or lower is crucial for a continuation of the bull market.

Low-Cap Meme Coin Offering Higher Gains Potential

Given that FLOKI has already accumulated a $2.37B market cap, it is in question whether truly substantial gains are possible going forward.

For traders seeking faster and more substantial returns, exploring newer low-cap meme coins poised for explosive growth could be a strategic move.

Enter Sealana, the latest Solana meme coin capturing the attention of meme fans, degens, and crypto enthusiasts, with some speculating it has 100x potential.

Sealana is at the forefront of a new wave of meme coins that are helping the Solana network challenge Ethereum’s dominance as the go-to blockchain for viral meme coins.

This comes off the back of wildly successful predecessors DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT), all of which quickly rose to become top ten meme coins by market capitalization.

Sealana has already raised over $4 million during its presale phase, signaling strong interest from investors and whales.

It is currently available at $0.022 per token, marking its final fixed price before the coin debuts on exchanges.

Once it does, there’s a very real chance that the price may never be this low again. As the presale enters its final 14 days, the window to take action is closing rapidly.

For the latest developments in Sealana, follow their X account.

Buy Sealana Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.