😱🔥FLOKİ: Bull Run Coming? Fundamental Indicators Point to a Bull Market

FLOKI’s popularity is high as social indicators increase.

The price of the meme coin has slightly corrected, but this trend may not last long.

Meme coins have been making a lot of noise lately, including Floki Inu [FLOKI], thanks to their rising popularity.

#floki’s Bullish Movement

FLOKI’s analysis of the daily chart reveals an interesting development. After peaking in mid-March, the price of the memecoin started moving in a bullish flag pattern.

It continued to strengthen in this pattern for more than a month and finally broke out on May 4. A breakout of the bullish flag pattern suggests that FLOKI’s price may soon reach the March high again.

The developments on the social front also seem to be positive for the meme coin.

The official X (former Twitter) username of the meme coin is trending to reflect FLOKI’s popularity on the social media site.

However, despite these optimistic signs, the price of meme coin has seen a correction, with the value of meme coin falling by 1.5% in the past 24 hours.

Bullish Trend May Continue

Investors should not worry about a price drop, as a breakout of the bullish flag pattern usually leads to a retest of the support level. Therefore, it is not uncommon for the price to fall slightly before another bullish rally.

It is found that the possible reason for the recent price drop could be high liquidations. Liquidations for meme coin surged to $0.0002, and then its price fell.

The downward trend may not continue. For example, the funding rate of FLOKI fell after rising.

Generally speaking, prices tend to move in the opposite direction of the funding rate. The MVRV ratio also remains quite high, which can be considered a bullish sign.

#FLOKIUSDT  #memecoins  #binance

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