Floki Crypto Looks Promising As Major Metrics Support Its Price?

Floki Inu crypto traded lightly on Monday, March 11th, amid decent intraday volume. The price has gained nearly 3.85% intraday, trading close to $0.0002832. The bulls are dominating and comfortably maintaining the price at the higher levels. 

The FLOKI crypto trades near its all-time-high value and might continue to surge higher as the overall market is trading positively. The recent price analysis displays that the Floki Inu crypto has been drawing upward trajectories from the last week after taking a pause at the $0.000111 price point level.

On the other side, the bears might be looking for a fair opportunity to enter the market of Floki Inu crypto asset since the recent sessions have experienced complete domination of buyers due to recent developments over the daily chart.

Recently, the Floki inu crypto price has reached an ATH mark, which may have both positive and negative impacts on the price. Therefore, the achievement may also excite some new investors and attract them towards the FLOKI cryptocurrency. 

Otherwise, it may also trigger a profit-booking opportunity for some investors who have gotten a significant return from the Floki Inu token on the portfolio. 

Floki Inu Crypto by Sam_TCR on TradingView.com

Floki Inu Crypto Volume And Volatility Chart Analysis

This chart exhibits the contrast between volatility and price movement in the Floki inu crypto. On examination, it shows that the FLOKI crypto has witnessed tremendous growth in recent sessions, and the volatility has advanced much as well, illustrating less stability in the price. It predicts that sellers are getting active and are not in the rear yet. Despite the dominance of the bulls in the market, a price correction or pullback is possible.

Moreover, the volume analysis shows that the FLOKI cryptocurrency has received $2.15 Billion in volume in the past 24 hours, which is 101.85% more than the previous day. The price vs volume describes a surge in volume along with the price increase, suggesting the continuation of the ongoing trend.

Floki Inu Crypto Social Dominance And Volume Chart

The social dominance including Floki news, X (formerly Twitter) followers, and social volume (including active users of Telegram and X), displays a positive trajectory; there is also a massive uptick in active users and X chatter. These metrics confirm that Floki Inu is popular.

The increasing number of tweets mentioning Floki Inu highlights its growth and shows that it has been among the trending tokens in recent times.

Moreover, the number of X followers (7D) surging could be due to any recent development causing its followers to boost. Social media acts as a major direct source to give limelight to the crypto projects and Floki seems to be rising in its Social Dominance, volume and followers.

Open Contracts are Rising

The OI data shows the Total number of open contracts in the Floki inu Crypto. The OI data analysis saw a continuous increase in the number of OI contracts in the recent sessions. During the past session, open contracts rose from 7.83 million to 20.88 million. However, there has been a short-term OI decline and its most recent sessions currently stands at 15.6 million. This suggests the potential for a rise in future sessions. 

Floki Inu Crypto gaining Users: Significant Rise In Active Wallet addresses

Active addresses refer to unique addresses of token users that participate in one or more transactions within a given timeframe. The number of distinct addresses in the FLOKI token that participated in a transfer for the given asset in the past 24-hour window is 32 transactions, the 7-day window is 133 transactions, and the 30-day window is 249 transactions. 

This illustrates that more people are using and trading the token, which implies a higher demand and value for the token as the active addresses of the FLOKI token are increasing. These terms highlight the short-term and long-term trends of a token’s activity and its adoption. 

Summary

Floki Inu crypto traded lightly on Monday, March 11th, displaying good volume in the last intraday session, and the FLOKI crypto is trading near its all-time-high value and might continue to surge higher as its overall market trades positively.

Therefore the achievement may also excite some new investors and attract them towards the FLOKI cryptocurrency. Moreover, the volatility has advanced much as well, illustrating probable less stability in the price and Floki seems to be rising in its social dominance, volume, and followers.

In addition, there has been a short-term OI decline and it currently stands at 15.6 Million. This suggests the potential for a rise in future sessions. Above all, the active addresses illustrate that more people are using and trading the token, as the active addresses of the FLOKI token are increasing over time.

Technical Levels

Support Levels: $0.00015000

Resistance Levels: $0.00035000

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.