- The price of FLOKI is up 23% in the last 24 hours.
- The rally came after Bitcoin surpassed $70,000.
The value of memecoin FLOKI has surged by double digits over the past 24 hours, with Bitcoin (BTC) surpassing the $70,000 mark.
At the time of writing, Memcoin was trading at $0.00033, with a price surge of 23% in the last 24 hours.
According to CoinMarketCap, Floki Among the top five meme assets by market capitalization, it is the only one to achieve double-digit price growth during the period under review.
FLOKI enjoys high social activity and whale attention.
As trading activity on FLOKI has increased over the last 24 hours, so has its trading volume. Trading volume during the same period was $1.2 billion, the highest since May 29. of santimement data.
FLOKI has also been a major topic of discussion across social media platforms. This has been highlighted by a surge in social dominance, according to Santiment’s data.
This indicator tracks the proportion of discussions about a specific asset compared to all discussions about the top 100 assets by market capitalization.
At 0.98% at press time, FLOKI’s social dominance showed that discussions about memecoins accounted for nearly 1% of conversations around the top 100 cryptocurrencies.
This shows that there is some level of interest in FLOKI compared to other interests.
Source: Santiment
This interest was reflected in increased whale activity in FLOKI during the period under review.
According to Santiment, there were a total of 86 FLOKI transactions worth more than $100,000 completed in the last 24 hours. This is a 115% increase from the 40 transactions recorded on June 4.
Source: Santiment
Preparing for greater growth
AMBCrypto’s assessment of some of FLOKI’s key technical indicators hinted at the potential for continued growth in the value of the meme coin in the near term.
For example, the Relative Strength Index (RSI) shows an upward trend and returned a value of 71.94 at the time of this writing. This means that market participants bought more FLOKI than they sold.
Realistic or not, the market cap of FLOKI in DOGE terms is:
Confirming the surge in demand for meme coins, FLOKI’s Chaikin Money Flow (CMF) remained above the zero line at 0.06.
Source: BNB/USDT on TradingView
This indicator tracks the momentum of fund flows into and out of the token market. A CMF value greater than 0 signals market strength as it signals increased liquidity inflows into the market.