Is There Going to Be a New Rally in the FLOKI Price?
The top-performing large-cap doge-themed currency over the last seven days is Floki ($FLOKI), a meme coin and soon-to-be trading bot named after Elon Musk's pet Shiba Inu.
Over the last day, $FLOKI lost 3.8% of its value, trading at $0.0001235.
With losses of 1.1% for Dogecoin ($DOGE), 0.7% for Shiba Inu ($SHIB), 3% for DogWifHat ($WIF), and 3.4% for Bonk ($BONK), these intraday losses are more severe than those of its competitors. Pepe ($PEPE), the largest meme currency that is not Doge, fell by 3.5 percent.
On the other hand, Floki's price has done very little movement over the last week. Except for $DOGE and $SHIB, which fell 2% and 1%, respectively, the aforementioned coins all fell by little over 6% this week.
According to these seven-day indicators, Floki is now outperforming Bitcoin ($BTC).
With a 2.8% weekly loss, the leading digital assetâwhich often dictates market patterns for the remainderâis now trading at $59,441.
The colored lines below represent the current price of $F$FLOKI kens relative to its support and resistance levels, respectively. The token is trading within a tight margin of these two levels.
The token's price has dropped 64% since early June, when it hit a new all-time high of $0.0003449.
Floki has been struggling to identify the subsequent leg above $0.000125 since the market meltdown on August 5th.
Even while those anticipating a price reversal may have to wait a little longer, Floki's relative strength index (RSI) of 49 and falling suggests the cryptocurrency will maintain its strong performance throughout the weekend.
All recognized cryptocurrencies will have a hard time attracting new investors due to the combination of a war-heavy news cycle, the possibility of more conservative fiscal policies from The Fed, and the prevalence of elections.
