Crypto investors are witnessing a surge in Memecoins that don’t just offer laughs, but big returns as well. Among these coins, Floki Coin has caught the attention of many, with its rally beginning this week. Named after Elon Musk’s dog, investors are becoming increasingly impressed with this meme coin.
There is some favorable news, which keeps massive money flowing into Floki token. According to CoinMarketCap, the 95th cryptocurrency hit a 45-day high this week at $0.00005. As a result, Floki became the top gainer of the day with a 34% overnight gain in price.
Although, along with the current price presence at $0.0000372 while writing, swing traders have booked short-term profit. The intraday trading volume in Floki token is $236.7 million, suggesting 1856% increase in the last 24-hours. This aggressive liquidity surges the market capitalization to $373.56 million.
The price structure broke the descending resistance, but the bulls are tired after last night’s 55% gain. As a result, the RSI peak curves down, when it receives rejection once again at the 62 barrier level (mentioned above in the chart).
Some Favorable Reasons behind Floki Price Hike:
The listing of Floki Token on the United States division of the largest cryptocurrency exchange Binance, Binance US brought this meme coin into the spotlight.
In addition, due to the announcement of making Floki the official partner of the Asian Badminton Championship 2023, ‘from April 25-30 in Dubai’, investors are considering it as an opportunity to increase the wealth of the portfolio.
Technical Levels:
- Support levels: $0.000033 and $0.000020
- Resistance levels: $0.000050 and $0.000066
Also read: Baby Pepe: A Potential Pump and Dump Scheme?
