• Floki Inu price lost over 10% in the past 72 hours.
  • The movement of FLOKI between addresses is currently at a three-month high.
  • Albeit minimal, the last ten days have seen the most realized gains on-chain since the end of February this year.

Floki Inu price has had a rough run, just like the rest of the crypto market, but investors seem to be bouncing back. Regardless, the meme coin needs to see more bullishness from the market in order to support these investors’ attempt at triggering recovery.

Floki Inu price is having a hard time

Floki Inu price is currently trading at $0.00003143 after slipping by more than 10% on the charts in the last three days. Since the beginning of May, the cryptocurrency has seen significant fluctuation but has not been able to sustain any green candlesticks. While the meme coin is still struggling to breach the key barrier at $0.00003790, investors somehow seem to be enjoying profits again.

FLOKI/USD 1-day chart

FLOKI/USD 1-day chart

The on-chain realized profit/loss indicator shows that over the last few days, investors have realized gains. The last time this happened was towards the end of February, after which investors’ activity slowed down considerably.

However, these gains also point towards selling since profits or losses can only be realized once they are sold back for their current value. While it is a good thing that the investors are observing profits over losses, they are still the effect of selling, which, if increased, could end up being detrimental to the price.

Floki Inu realized profits

Floki Inu realized profits

As is, FLOKI supply has begun changing hands at a good pace. The velocity, which measures the rate at which one token goes through addresses, is presently at a three-month high. This suggests that the network activity is currently strong as more tokens are moving around, indicating investors are conducting transactions on-chain.

Floki Inu velocity

Floki Inu velocity

Thus the realized profits and higher on-chain activity from investors do point towards Floki Inu holding the potential to rally further and breach the resistance level at $0.00003790. 

Flipping this level into a support floor would also provide FLOKI with the boost it needs to rally further. However, a rejection of the same level could leave the meme coin vulnerable to a decline below $0.00003000. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Arbitrum community opens vote for 200 million ARB Gaming Catalyst Plan proposal

Arbitrum community opens vote for 200 million ARB Gaming Catalyst Plan proposal

Arbitrum community opened a vote for its Gaming Catalyst Program (GCP) to boost support for game builders in the ARB ecosystem. The plan is to strategically allocate 200 million ARB to game projects within Arbitrum. The token has sustained its gains from the week.

More Arbitrum News

ONDO extends gains by 4% with rise in non-empty wallets, hits new all-time high

ONDO extends gains by 4% with rise in non-empty wallets, hits new all-time high

Ondo extended gains by 75% increase in the past 11 days, per crypto intelligence tracker Santiment. The token ranks among top trending assets on the platform, with a massive spike in non-empty wallets. ONDO added 4% value to its price on Sunday, sustaining 40% gains from the week. 

More Ondo News

Aptos user transactions hit record high, APT eyes over 20% gains

Aptos user transactions hit record high, APT eyes over 20% gains

Aptos user transactions in a single day reached 97.488 million. The number of user transactions and Transactions Per Second, both metrics hit a record high, supporting the thesis for price gains in APT. The rise in transaction-related metrics can be attributed to Tapos, a viral clicker game where users can earn rewards. 

More Aptos News

US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

US Presidential candidate Donald Trump shared positive views on crypto, posting on social media platform, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry.” 

More Cryptocurrencies News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis

BTC

ETH

XRP