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FLOKI’s price increased by over 11% in the last seven days, giving it a spot on the list of the top 100 cryptos by market cap. However, things might soon turn sour.
, FLOKI’s price declined by more than 4% in the last 24 hours. At press time, it was trading at $0.00003523 with a market capitalization of over $341 million.A look at FLOKI’s on-chain metrics gave an idea of what went against Floki Inu in the last couple of days. For instance, negative sentiments around FLOKI spiked a few days ago while its price registered a decline.
After spiking during the uptrend, Floki Inu’s network growth also declined, suggesting that fewer new wallets were used to transfer the asset. Additionally,Floki Inu’s Relative Strength Index registered a slight downtick and was hovering below the neutral mark. The memecoin’s Chaikin Money Flow was also considerably down, further increasing the chances of a continued downtrend.
’s price was about to enter a less volatile zone, decreasing the chances of an unprecedented price surge in the near term.The hype around memecoins seemed to have halted as most of the coins’ performances were negative. For example, PEPE, the current talk of the town, registered a price decrease of over 16% in just the last 24 hours.
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