The popular meme coin, Floki (FLOKI) is poised for a significant 50% upside rally due to bullish on-chain metrics and an upcoming breakout.
57.52% of top traders held long positions at press time, while 42.48% held short positions.Since late August 2024, FLOKI has been consolidating in a very tight zone between $0.000115 and $0.000132 levels.
It was trading below the 200 Exponential Moving Average on a daily time frame, indicating a downtrend. This rising Open Interest suggested that traders were potentially building more long positions amid the upcoming breakout.
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