Price Forecast for #Floki Inu: A Sudden Decline Anticipated in Light of $200 Million Trading Volume?

Some are worried that the meme currency Floki (FLOKI) would soon see a further fall, as the price has dropped 3% to below $0.00020, despite $170 million in trading volumes on Thursday.

Floki, with its name taken from Elon Musk's Shiba Inu dog, is the meme currency with the fifth-largest market valuation. The market capitalization of FLOKI was recently at $1.84 billion, as reported by CoinMarketCap.

In late February/early March, $FLOKI had a meteoric rise in price due to a spike in risk appetite within the meme coin sector.

From February 25th to March 14th, FLOKI saw an 800% increase, peaking at $0.000313. However, it has since declined by around 38%.

Meme coin niche risk appetite has deflated due to the larger market's lack of momentum.

The Floki price has been forming a triangle pennant pattern throughout the last month.

At the moment, Floki poses a danger of breaking this pennant formation downward. A brief return to the $0.00016 support level might be possible if this occurs.

If there's a break below this, things can become dangerous. Before $0.00007, Floki does not have any significant support levels.

Therefore, it's possible that we may see losses of up to 65% from where we are now. That can result in 80 percent losses for those who invested at the recent peak.

Naturally, a lot of people would think that this downturn is a fantastic opportunity to get into the meme coin market.

Meme currencies have shown their immense potential over the last several months. Since the bull market is far from done, Floki has the potential to reach new record highs. Even while the odds of a price decline in the near future are high, that remains the case.

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