Robinhood Effect Incoming? FLOKI Primed for Liftoff Following Major Listing.
Summary
- FLOKI rose over 11% to $0.000118 on Aug. 8 after debuting on U.S.-based trading platform Robinhood.
- Whale holdings fell to 28.94 billion tokens from a monthly peak of 30.5 billion.
- Technical signals show breakouts from a falling wedge and double-bottom pattern.
Floki Inu (FLOKI) barked its way to an 11% surge, hitting $0.000118 in early Asian trading on August 8, reported by crypto.news. Though the rally cooled slightly to $0.000117, Floki’s morning move signaled a vibrant pulse in the meme coin market.
Trading desks buzzed as volume exploded, ripping 125% higher in a single day. The market roared to life.
FLOKI isn’t just barking up the wrong tree; it’s climbing it. Surging past a billion-dollar valuation, this Viking-themed meme coin now boasts the #8 spot in the meme coin kingdom. While Official Trump and SPX6900 still hold court, FLOKI’s fierce community is hungry for more. Zooming out, it’s a respectable 104th place contender in the entire crypto arena. Is FLOKI poised to raid the top 100? Keep watching.
The primary driver behind FLOKI’s gains today is its debut on the U.S.-based trading platform Robinhood.
Floki’s leap onto a leading retail platform? Think unlocking a treasure chest for over 25 million potential users, as hailed by the team themselves. A monumental stride, indeed.
$FLOKI is Now Listed on the Robinhood App Floki just unlocked a game-changing door, catapulting into the spotlight of the world’s leading retail trading platform! Prepare for liftoff as Floki lands in the hands of over 25 million eager users.
Historically, exchange listings often trigger short-term price spikes, though momentum can fade as speculative buying cools.
But beneath the surface euphoria, on-chain data whispers a different tale. Whale wallets, tracked by Nansen, have shrunk from a monthly high of 30.5 billion tokens to 28.94 billion. Are these crypto leviathans subtly cashing out, tempering the rally with strategic sell-offs?
Source: Nansen
FLOKI’s exchange reserves are dwindling. A 5.1% drop last month leaves just 2.12 trillion tokens available – a signal that sellers are losing steam and the circulating supply is getting squeezed. Is a price surge on the horizon?
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Derivatives markets are buzzing with renewed optimism. CoinGlass data reveals a striking 20% leap in futures open interest in the last 24 hours, catapulting it to $53.6 million. This surge marks a significant rebound from the month’s low of $40.2 million. The rising tide of open interest, particularly as prices climb, suggests traders are betting on continued upward momentum. Are they right? Time will tell, but the bulls are certainly charging.
Shorts are leading longs, 0.86 to 1. Bulls beware: this crowded trade could fuel a face-ripping short squeeze if the rally continues, as bears scramble to cover.
Floki price analysis
Since late July, FLOKI’s daily chart has been trapped in a descending wedge, a formation whispering promises of a bullish breakout. Think of it as a coiled spring, the downward pressure steadily weakening, ready to unleash upward energy. A decisive break above the wedge’s upper boundary could signal the end of the bearish reign and the dawn of a sustained rally.
FLOKI price, MACD and RSI chart Aug. 8 | Source: crypto.news
FLOKI confirmed the breakout on Aug. 4 when it moved above the wedge resistance at $0.000107.
“Bulls are flexing. Momentum indicators confirm the shift: the MACD is primed for a bullish crossover, while waning red histograms whisper of evaporating bearish resistance.”
The Relative Strength Index (RSI) offers a glimpse of potential: clawing its way back from oversold depths to a reading of 53, it suggests buyers are returning to the field. But the game isn’t won yet – the market hasn’t reached overbought territory, leaving room for further gains.
FLOKI’s bulls are flexing! The 4-hour chart screams bullish reversal as the meme coin blasts through the $0.000113 neckline, confirming a double-bottom pattern. This bullish formation materialized after FLOKI stubbornly defended the $0.000098 support zone, each bounceback fueled by increasing buying pressure.
FLOKI has confirmed a breakout from a double-bottom pattern on the 4-hour chart Aug. 8 | Source: crypto.news
Spot a “double bottom” on the charts? Think of it as the market whispering, “Ready for takeoff!” This bullish pattern hints that buyers are stepping up, sentiment is shifting, and the price is about to bounce off a solid floor. It’s like the daily chart is already flashing green, and the double bottom just confirms: the bulls are here to stay.
FLOKI’s poised for liftoff! Technical indicators are screaming “buy,” targeting a near-term surge to $0.000146. That’s a potential 25% jump from current levels – are you ready to ride the wave?
Alternatively, a fall below $0.000098 shatters this bullish scenario, paving the way for a potentially significant downward spiral.
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Before you dive into the world of investing, remember this: We’re here to illuminate the path, not dictate your destination. Consider this article your compass for knowledge, not a financial roadmap. Chart your own course wisely!
Thanks for reading FLOKI rallies after Robinhood listing here’s why it could climb even higher
