FLOKI gains 40% with $1.37B trading volume

FLOKI (CRYPTO:FLOKI) saw a significant 40.72% increase over the past week, driven by high trading volume and increased on-chain activity.

As of November 14, 2024, FLOKI was priced at $0.000194, marking a 6.01% decrease over the past 24 hours but still reflecting strong weekly momentum.

Trading volume in the last 24 hours reached $1.37 billion, underscoring sustained interest.

The circulating supply of FLOKI stands at 9.7 trillion, contributing to a market capitalisation of $1.88 billion.

The recent dip is viewed as a normal correction following substantial gains.

Key technical data pointed to critical support and resistance levels.

The upper Bollinger Band at $0.00021499 could act as resistance, while $0.00009907 serves as key support.

The midline of the Bollinger Bands, around $0.00014949, may shift between support and resistance depending on price trends.

The Relative Strength Index (RSI) remained at 64, signaling bullish momentum that has not reached overbought territory.

The MACD displayed continued positive movement, while the Chaikin Money Flow (CMF) reading of 0.18 indicated consistent buying pressure.

In the futures market, open interest for FLOKI dropped 10.05% to $28.48 million, hinting that traders might be securing gains or reducing exposure amidst market fluctuations.

Despite this, futures trading volume rose by 5.10% to $303.35 million, showing that many traders remained active and optimistic about future price movements.

On-chain metrics revealed a surge in activity, with new addresses increasing by 331.93% and active addresses by 233.42%, suggesting growing user interest.

The number of zero-balance addresses also grew by 306.67%, which could point to speculative moves or the consolidation of funds across wallets.

At the time of reporting, the Floki (FLOKI) price was $0.0002325.