👀 $FLOKI : After 80% gains, is the memecoin’s bull run about to end? - AMBCrypto Analytics

AMBCrypto’s analysis of Santiument’s data revealed that despite the recent price correction, its weighted sentiment remained high. This clearly meant that bullish sentiment around it was dominant in the market.

Additionally, its social volume also increased, reflecting its popularity.

It was interesting to note that most of the other on-chain metrics also looked pretty bullish on the memecoin, as they hinted at a trend reversal. For instance, its MVRV ratio remained in the positive zone.

Its NVT ratio also dipped sharply.

A drop in the metric means that an asset is undervalued, indicating a possible price rise in the coming days.

Moreover, the memecoin’s network growth also increased last week, indicating that more new addresses were created to transfer the token. 

AMBCrypto’s analysis of the memecoin’s daily chart revealed that its MACD displayed a bullish upperhand in the market.

According to the Bollinger Bands, FLOKI’s price was testing well above its 20-day Simple Moving Average (SMA). However, the Chaikin Money Flow (CMF) turned bearish as it moved southward. 

If the memecoin continues to shed its value over the coming days, then investors might witness it drop to $0.00025. This seemed to be the case, as liquidation would rise sharply at that level.

On the other hand, if FLOKI turns bullish, then its price might touch $0.00036 soon.