The post Floki Inu price prediction: Why another ATH may be close appeared on BitcoinEthereumNews.com.

Large transactions increased, indicating that FLOKI could hit $0.00040 in the short term. The token’s social dominance and weighted sentiment fell, predicting a possible bullish invalidation. In the last seven days, Floki’s [FLOKI] price has increased by 24.79%, triggering different opinions about Floki Inu price prediction. At press time, the token changed hands at $0.00031. A few days ago, specifically on the 5th of June, FLOKI hit a new All-Time High (ATH)  of $0.00034. However, since that day, the price decreased and in the last 24 hours, has been swinging sideways. Despite the retracement, AMBCrypto found that several metrics were supporting the bullish Floki Inu price prediction to come to pass. First on the list was the large transactions happening on the Floki network. FLOKI has the “big boys” support According to data from IntoTheBlock, large transactions had increased by 9.81% in the last 24 hours. For context, large transactions are tagged as transactions valued at $100,000 or more. Spikes in this metric indicate high activity by institutional players. However, this could be either buying or selling. But FLOKI’s price action suggested that most of the volume tilted toward a purchase. Should this metric continue rise, then FLOKI’s price could hit a new ATH. Beyond the transactions, AMBCrypto looked at the active addresses to determine if the Floki Inu price prediction indicated by the transactions could be validated. At press time, daily active addresses on the network was 77,790. This was a notable increase from the number in the last week of May. Source: IntoTheBlock In general, active addresses tracks network activity. Most times, the metric has a strong correlation with FLOKI’s price. If the indicator decreases, it means that interaction on a blockchain is decreasing. At the same time, it implies low demand for the cryptocurrency. However, the recent…

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Filed under: News - @ June 8, 2024 5:14 pm