Following a record high of $0.00035 on the daily technical chart, Floki Inu is exhibiting considerable volatility. Several important technical factors caused the price to fall 54% from June 5 to the current day.
A crucial support level during the rally towards $0.00035 was the dark red Ichimoku cloud baseline. But the price dropped below this line on June 7, indicating a shift in market sentiment. This set the stage for a precipitous fall.
On the daily chart, the 200-day exponential moving average (green) provides significant support, and the price is currently testing it. The 200 EMA has been a significant long-term indicator for a long time. If it is broken, the price might drop even lower, maybe to $0.00015, as volatility rises.
