- FLOKI was down by more than 22% in the last seven days.
- Few metrics looked bullish but indicators suggested otherwise.
The last week was not profitable for FLOKI investors as the memecoin’s value dropped by double digits. However, investors must not lose hope yet as there were chances of FLOKI rebounding from a critical support zone, allowing it to register green on its price chart soon.
FLOKI is bleeding
According to CoinMarketCap, the memecoin’s value sank by more than 22% in the last seven days. In fact, in the last 24 hours alone FLOKI’s price dropped by over 4.5%. At the time of writing, the meme coin was trading at $0.0001896 with a market capitalization of over $1.8 billion.
The negative price action took a toll on investors’ confidence in the memecoin as its weighted sentiment dropped sharply. However, its social volume remained high, reflecting its popularity in the crypto space.
Nonetheless, CryptoBull, a popular crypto analyst, recently posted a tweet highlighting a possible bull signal for FLOKI. As per the tweet, the coin has a strong support near the $0.000172 mark.
If its value drops to that mark and successfully tests it, then a bull rally could be expected. To be precise, a rebound from the support zone might also allow FLOKI to go above its March high, which looked pretty ambitious.
Is a bull rally inevitable?
Though the analysis mentioned FLOKI touching its support before beginning a bull rally, things might
Go to Source to See Full Article
Author: Dipayan Mitra
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
