• Floki prices witnessed a rise by 34% in the intraday session.
• The Roadmap for 2023, is attributed to the rise.
• The volume swelled by 155.7% in the past few hours.

Floki is the utility token of the Floki Ecosystem, inspired and named after Elon Musk’s Shiba Inu dog, Floki. The ecosystem rolled out the roadmap for 2023, providing the users with the insights of the plans for the meme token in the upcoming months. Floki Inu is currently working to develop its flagship utility projects, which includes Shop Floki, a suite of DeFi products launched under the FlokiFi Project, an NFT and merchandise marketplace called FlokiPlaces, University of Floki, Chinese White Paper and Valhalla website upgrade. 

The FlokiFi project is probably the most crucial integration scheduled to be released in Phase 3 which may also include a mystery project playing a significant role in the ecosystem. Post listing on KuCoin Exchange, Floki experienced a significant price rally attributed to the tweet made by the Twitter CEO joking with a photo of his dog, Floki. Meanwhile, Floki launched an NFT sale to support Turkish Earthquake victims by providing relief to support Turkey in the aftermath of the recent quake.

Prices marching to rise

The FLOKI prices witnessed fame overnight and gained a bullish momentum. The prices gained about 34% in the intra day session while the volume marked high buyer interaction. The hike was followed by a falling trend and then surged again. The volume followed the same pattern as of the FLOKI price. The volatile OBV shows the market is very ambiguous.

The CMF floats above the zero mark to display the bullish influence in the market. The MACD shows buyers participating in the market to gain dominance. The RSI moves near the ceiling range to show buyers’ pull.

The Peephole

The smaller time frame shows a staggered rise in FLOKI prices. The CMF stoops below the baseline to show pressure in the price action. The MACD shows seller action to end and buyers to move in favor of FLOKI. The RSI rises to the 60-range to show buyers gaining dominance.

Conclusion

The FLOKI fame game seems to be favoring the coin, but it is yet indecisive if the effect is long lasting or not. The price action is very volatile and causes many worries. The holders can look out for support near $0.000038.

Technical levels

Support levels: $0.000038 and $0.000020

Resistance levels: $0.000055 and $0.000067

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.