Memecoin Buy of the Month: Buy Floki at these levels!

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Floki has shown strong momentum in the past 24 hours, with a notable 8.52% price increase. It currently ranks 64th in the global crypto market by market capitalization.

This article provides an in-depth analysis of FLOKI’s price performance as of October 7, 2024, alongside key metrics and indicators.

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FLOKI Crypto Price Analysis

Price: $0.0001442
24h Trading Volume: $323,314,648
Market Cap: $1.39 billion
Circulating Supply: 9.69 trillion FLOKI
24h Price Change: +8.52%
24h High/Low: $0.0001458 / $0.0001326

Price had a bullish breakout from Falling Wedge pattern, which signaled a bullish trend reversal and reached our near-term target of $0.00017 for +30% gain. Price got overbought (RSI > 70) at resistance and pulled back.

We would be buyers on pullbacks to $0.00013 support with +30% potential upside back to $0.00017 again. Stop Loss at $0.114.

Weekly Price Analysis

7-day Price Change: -11.82%
Opening Price (October 1, 2024): $0.0001634
Current Price (October 7, 2024): $0.0001442
Trend: Short-term trend is Down, Medium-term trend is Up, Long-term trend is Strong Down.
Momentum is Bearish but inflecting. MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing. Price is neither overbought nor oversold currently.
Support and Resistance: Nearest Support Zone is $0.00013, then $0.0001. Nearest Resistance Zone is $0.00019.

Technical Indicators

Relative Strength Index (RSI): RSI is currently hovering around 48.
Moving Average Convergence Divergence (MACD): The MACD is signaling a potential bullish crossover.
Bollinger Bands: FLOKI’s price is nearing the upper band.

News Roundup

Partnerships: FLOKI recently announced its partnership with Premier League’s Nottingham Forest, positioning itself as the club’s official cryptocurrency partner.
Ecosystem Development: FLOKI continues to make strides with its NFT marketplace and DeFi integrations, appealing to a broader audience.

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