FLOKI price plunges, could it fall another 80% in the future?

Since its all-time high, FLOKI price has fallen 51%. According to analysis, FLOKI could fall another 80% in the coming days.

FLOKI is a popular dog-themed meme coin that impressed investors with its early gains, rising to an all-time high of $0.0003462 on June 5. However, this rally did not last long and the price plummeted almost immediately, falling 51% since then.

At the time of writing, FLOKI is priced at $0.0001691 and has been falling for several days. The price has fallen 11% in the past 24 hours and is at its lowest point this month. Meanwhile, the market capitalization has also fallen to $0.0001691. In contrast, the 24-hour trading volume reached $309,291,946 after surging 41%, suggesting that the possibility of a recovery is slim.

FLOKI has been quite bullish in the previous weeks, but now the situation has taken a 180-degree turn and bearish signals have prevailed. The Relative Strength Index (RSI) is 34.11, indicating bearish behavior among holders. Previously, FLOKI was valued higher due to the overbought nature of the meme coin. Now, it is in the oversold zone according to the Stochastics (20,3) and Williamson %R (14). On the other hand, the MACD (12,26,9) is in the neutral zone.

In a bear market, all short-term moving averages (5, 10, 20, 50, 100 days) indicate that FLOKI is in a completely bearish zone, except for the 200-day moving average.

The FLOKI price will fall sharply, which may wipe out all the gains of the last month. According to his analysis, the FLOKI chart has entered a bearish iCH, which may create an internal correction. The forecast shows that FLOKI will fall by 80% and its value will drop to $0.00006.

The price of FLOKI has started to rise slowly and may see a small recovery, but it is uncertain whether it will rise sharply immediately. Currently, both technical indicators and moving averages indicate a bear market. Once this meme coin follows the bull market, an upward trend will occur, as predicted by analysts.

In summary, FLOKI is currently in a downward trend, and technical indicators show that it may continue to fall in the future. Investors need to remain vigilant and pay close attention to market dynamics and technical indicators.