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- This week, FLOKI recorded a new ATH and witnessed sharp volatility.
- Despite the massive surge of over 25% this week, buyers failed to hold gains at the highs.
The FLOKI price witnessed a sharp surge, making a fresh All-Time high this week. However, the overnight U.S jobs data spoiled the buyers’ celebration and triggered profit booking.
The memecoin established a range breakout and succeeded in breaching its ATH mark this week. Despite the market volatility, investors have persisted in accumulating the FLOKI memecoin and revealed their interest.
The trend is bullish, and the memecoin trades in the rising channel, displaying the higher high swings. The uptrend remains intact until the downside support zone of $0.0002500 is not breached.
At press time, the FLOKI price traded at $0.0002821 with an intraday drop of 8.36%, reflecting bullishness on the charts. It has a monthly return ratio of 66.30% and 198.27% yearly, reflecting an uptrend.
The pair of FLOKI/BTC is at 0.0000308 BTC, and the market cap is $121.59 Million. Analysts are neutral and suggest that the FLOKI price may continue to uplift gains and will outperform in the upcoming sessions.
Can FLOKI Continue to Shoot Up Gains Ahead?
Trading in the upward trajectory, the price action guides bulls’ dominance and implies the possibility of continuing the bull run ahead.
Moreover, the buyers have gained momentum and might prevail in extending the upmove. If sellers succeed in breaking the 50-day EMA mark support, the support zone might be retested to $0.0002000 soon.
Source: TradingView
The daily chart of FLOKI reveals an impressive price recovery and is all set for a next bull run soon. This sharp surge led the sellers to be trapped, and the memecoin continued to outperform in the next sessions.
The trading volume surged over 23% to $546.17 Million, and the total supply value was 10 trillion.
Notably, the key metrics guide bullish data and suggest that the FLOKI has a lot of potential and might extend the bullish wave ahead. The RSI curve stays in the overbought zone but reveals a negative crossover on the daily charts.
Meanwhile, the FLOKI price trades above the 61.8% Fib level and still looks bullish on the charts.
Price Volatility and Weighted Sentiment Outlook
The Price Volatility data witnessed a minimal decline of over 18% and dragged below the midline, noting around the 0.017 mark, revealing neutral data.
Source: Santiment
However, the weighted sentiment data observed a turnaround and slipped over 17% to the -0.414 mark, guiding fear among the investor and willingness to secure their gains at the highs.
In a tweet, @Alek mentioned that FLOKI has traded in a mega-bullish trend for the last 2 to 3 weeks. It has crossed multiple resistance zones and pushed towards new heights.
He added that investors need to hold on tight, and this ride will go higher.
$FLOKI Is mega bullish trend for last 2 to 3 weeks.
— Alek (@Alek_Carter) June 8, 2024
Breaking through resistance zones and pushing towards new heights.
Hold on tight the ride is going higher! #FLOKI #Crypto pic.twitter.com/5d0X4oxjGF
Source: X
FLOKI Faces Decline in Its Social Insights
The Social Dominance value dropped over 167% and dragged to 0.171%, reflecting a drop in the investor discussion activity on the social media platform.
Source: Santiment
Fueled by its growing community and consistent developments, the price rallied by taking timely breaks, and a follow-on rise for the past week has been witnessed.
@Shelby, in this tweet, plotted the roadmap of FLOKI, “Floki‘s ambitious roadmap shows they mean business in their mission to become the world’s most known and used #cryptocurrency.
Key milestones: P2E game #Valhalla, crypto education platform University of Floki, Floki-powered bank accounts.
#Floki's ambitious roadmap shows they mean business in their mission to become the world's most known and used #cryptocurrency.
— Shelby (@CryptoNewton) June 7, 2024
Key milestones: P2E game #Valhalla, crypto education platform University of #Floki, Floki-powered bank accounts.
I'm paying attention to $FLOKI! pic.twitter.com/E0LhSIaWM9
Source: X
The immediate support levels for the FLOKI price are $0.0002600 and $0.0002200, whereas the key upside hurdle is around $0.000300, followed by $0.0003200
Conclusion
The FLOKI price trades in the bullish trajectory and might continue to rally ahead. Moreover, the buyers are dominant and will persist in accumulating the gains.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
