FLOKI cryptocurrency surges 40.72% in a week, trading volume remains high

New addresses surge, user acceptance increases

At press time, Floki [FLOKI] is priced at $0.000194, down 6.01% in the past 24 hours. However, the token is up 40.72% in the past week, showing an overall upward trend.

With a 24-hour trading volume of $1.37 billion, trading activity remains high despite a short-term price correction.

FLOKI has a circulating supply of 9.7 trillion and a market cap of $1.88 billion. The recent decline may just be a normal correction after the rise.

Key Support and Resistance Levels

The technical picture shows some important price levels. The upper Bollinger Band at $0.00021499 may act as a resistance level for the price.

On the other hand, the lower $0.00009907 is a key support point that may attract buying intervention.

The middle Bollinger Band is around $0.00014949 and could switch between support and resistance depending on price action.

The relative strength index (RSI) is around 64 at press time, showing that the asset is in bullish territory but not overbought.

In addition, the MACD indicator shows positive momentum and the Chaikin Money Flow (CMF) index is 0.18, indicating steady buying power, supporting the bullish trend.

Futures Market Updates

FLOKI futures open interest decreased by 10.05% to $28.48 million at press time.

This indicates a decrease in leveraged positions, possibly as traders choose to take profits or reduce positions after volatility.

Despite the decrease in open interest, the futures market remained active, with trading volume rising by 5.10% to $303.35 million.

This reflects that while some traders are controlling their risk, others are still participating in anticipation of further price volatility.

Prospects for network expansion

FLOKI’s on-chain activity has increased significantly over the past week. The number of new addresses has increased by 331.93%, and the number of active addresses has increased by 233.42%, indicating an increase in the number of users.

These data indicate that the FLOKI ecosystem is more active and more wallets are participating in transactions.