Floki (FLOKI) price, a popular meme cryptocurrency, has been facing a volatile market with significant price fluctuations. FLOKI has struggled to recover its higher trading levels, consistently showing a bearish trend over recent weeks. Despite a pessimistic short-term outlook, Floki exhibits resilience against ongoing market pressures. Notably, it is forming higher lows, which could signal a potential bullish rally in the upcoming trading cycle. 

In the past 24 hours, meme coins and other crypto markets have exhibited notable volatility. Dogecoin dropped by 3.90%, while Shiba Inu saw a decrease of 1.72%. Pepe also declined by 2.67%, contrasting with Dogwifhat, which slightly gained by 0.38%. This reflects the often unpredictable fluctuations that characterize the meme coin segment of the cryptocurrency market.

Floki Price Dips Amid OG Esports Partnership

Floki price has experienced a 7% decline over the past week, coinciding with its announcement of a partnership with OG Esports for the Valhalla Metaverse Game. This collaboration introduces Valhalla, a play-to-earn MMORPG, promising a blend of open-world exploration and strategic turn-based combat. Players can earn rewards by leveraging their gaming skills and strategies. 

Additionally, Valhalla will gain visibility as a jersey sleeve sponsor for OG Esports during all forthcoming events. This partnership aims to foster engaging new content and experiences for the community, enhancing fan interaction with both brands.

Over the past 24 hours, the Floki price has seen subtle fluctuations, indicating a modest increase in investor interest. As of the reporting time, the FLOKI price hovered at $0.0001187, making a slight gain during the day’s trading session. This increase accompanies a significant 34.70% rise in trading volume, which amounted to $173.97 million, suggesting heightened activity around this meme coin.

The Moving Average Convergence Divergence (MACD) shows signs of a potential reversal. Recently, the MACD line (blue) has converged towards the signal line (orange), indicating diminishing downward momentum and a possible shift towards a bullish market in the near term.

Floki Price Chart| Source: TradingView

According to Coinglass, the trading volume for Floki has surged by 59.17%, reaching $44.54M. This significant increase contrasts with a 7.32% decrease in open interest, which now stands at $20.29M. Meanwhile, data on options volume and open interest was not disclosed. This shift in trading dynamics suggests a heightened trader interest in Floki, potentially indicating increased speculative or strategic activity surrounding this cryptocurrency.

Source- Coinglass

The meme-based coin FLOKI faces a significant hurdle as it approaches the $0.00015 level. A robust resistance awaits at $0.0002. If FLOKI maintains its position above this marker, opportunities for an upward trajectory to $0.0003 may emerge. Moreover, a sustained rally has the potential to propel the coin further to $0.0005.

The post Floki Price Eyes 115% Gain Amid Partnership and Market Resilience appeared first on CoinGape.

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Filed under: News - @ September 7, 2024 10:27 am