FLOKI (FLOKI) is up 31.91% in 24 hours

Gate News Bot message, on July 17, according to CoinMarketCap data, as of the time of writing, FLOKI (FLOKI) is currently priced at 0.00013387 USD, rising 31.91% in the last 24 hours, with a high of 0.00013921 USD and a low of 0.0000907279 USD. The 24-hour volume reached 623 million USD. The current market capitalization is approximately 1.277 billion USD, an increase of 309 million USD compared to yesterday.

FLOKI is the utility token of the Floki ecosystem. Floki is empowering people through GameFi, DeFi, and cryptocurrency education.

Important news about FLOKI recently:

1️⃣ Breakthrough of the descending channel, entering a bullish trend FLOKI has successfully broken through the long-term descending channel pattern and surpassed the key level of 0.000088, marking the entry into a bullish trend. This breakout paves the way for further rises, and technical analysis indicates that FLOKI may experience a significant rebound.

2️⃣ Market sentiment turns optimistic The participation of investors and traders has surged, with a 24-hour volume spike of 101%. On-chain analysis shows that there has been a net outflow of about $250,000 in FLOKI from the exchange in the past 48 hours, indicating that funds are accumulating. This kind of market activity usually signals an increase in buying pressure.

3️⃣ Leveraged positions are biased towards long Traders have established a large number of long positions at a lower price (0.0000847 USD), with a total value of 834,700 USD, while short positions established at a higher price (0.0000953 USD) are only 198,100 USD. This indicates that most traders are bullish on FLOKI.

From a technical perspective, if FLOKI can maintain above the support level of $0.000088, it may rise by 30%, with a recent target price of $0.0001158. However, the 200-day Exponential Moving Average (EMA) is located around $0.00009810, which may pose some resistance. A breakthrough of the EMA will further confirm the bullish trend.

This message is not an investment advice, and investors should be aware of market volatility risks.