Floki Price Increased More than 30% in a Week, Here's Why 🔥

The price of #FLOKI✅ increased by 50% this week, from $0.000139 to $0.00021. The number of open positions on FLOKI increased by 30%, while the trading volume increased by 54.36%. The new listing of Kraken increases FLOKI's liquidity; It is backed by EUR and USD.

$FLOKI As of the date of writing, it is trading at 0.000199.

The recent FLOKI spot listing, significant marketing changes and the WazirX hack contributed to this rise.

Crypto analyst Javon Marks noted the formation of a Hidden Bullish Divergence, which means a massive price increase for FLOKI . According to Marks' analysis, this divergence suggests a possible increase of approximately 81% to take the price to $0.00034888.

Divergence is defined as higher highs on the chart and lower highs for the indicator, indicating that the uptrend may continue. Marks also noted that a break of the critical resistance level at $0.0002761498 could open higher ground, with the price likely rising to $0.00054673, which would be a 54% increase from the initial target.

Similarly, trading volume and open interest also played a role in FLOKI's upward momentum. The recent hack of Indian crypto exchange WazirX, which resulted in losses of more than $230 million, including $4.7 million in FLOKI tokens, was alarming at first.

However, the market absorbed the selling wave, demonstrating FLOKI's liquidity and durability. The hacker liquidated all acquired FLOKI tokens and therefore cannot influence the token price any further.