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The Floki price has surged 6% in the last 24 hours to trade at $0.0001529 as of 3:25 a.m. EST on a 17% drop in trading volume to $228 million.
Floki Price Breaks Out Of Consolidation- Can The Bulls Sustain The Momentum?
The chart for the FLOKI/USD trading pair in a 4-hour timeframe exhibits several bullish signals. A significant pattern on the chart is the round bottom formation, which typically indicates a bullish reversal, suggesting that the price may have bottomed out and is trending upwards.
Following this, the price action has moved into an ascending channel, characterized by higher highs and higher lows, further reinforcing the bullish sentiment.
The price is currently trading within this channel, with the lower boundary acting as support and the upper boundary as a potential resistance, where traders might consider taking profits.
FLOKIUSD Analysis Source: Dextools.io
The moving averages provide additional confirmation of the bullish trend. The 50-period MA (blue line) is currently below the price, indicating short-term upward momentum, while the 200-period MA (green line) has also been breached, signalling a longer-term bullish trend. These MAs serve as dynamic support levels as the price continues to rise.
The Relative Strength Index (RSI) is at 63.48, below the overbought level of 70, suggesting that there is still room for further upward movement. However, as the RSI approaches overbought territory, it could indicate a potential pullback.
The MACD also supports the bullish outlook, with the MACD line above the signal line and the histogram showing positive, albeit possibly weakening, momentum.
Floki Price Potential Bullish Breakout Coming
In the coming days, if the price continues to respect the support level provided by the ascending channel, it could attempt to break higher, possibly targeting new highs.
However, traders should remain cautious and watch for signs of a reversal, especially if the RSI becomes overbought or the MACD histogram starts declining. A break below the lower boundary of the ascending channel could signal a shift in trend and a potential downside move.
While the short-term outlook is bullish, some indicators suggest the potential for a near-term pullback or consolidation.
Traders should be prepared to adjust their strategies accordingly, particularly if the price approaches key resistance levels or if momentum indicators signal a reversal.
Shibashootout Presale Blasts Past $1 Million- The Best Meme Coin To Buy
As more upside is anticipated for the Floki price, investors continue to add more capital to this new Shiba Inu derivative Shibashoout (SHIBASHOOT), with more than $1 million already raised in early funding.
This investors’ enthusiasm has led crypto analysts and YouTube Crypto Zeus to say that SHIBASHOOT may explode 100X upon its launch.
Unlike typical meme coins, Shiba Shootout offers more than just hype; it features a playable game and a developing ecosystem.
A simplified game version is now accessible on Google Play and the App Store, allowing early backers to explore its concept.
Set in the fictional town of Shiba Gulch, the game allows players to engage in gunfights between Shiba Inu-themed cowboys, earn $SHIBASHOOT tokens, and enjoy dynamic gameplay.
In addition to duels, players can participate in meme-offs by sharing stories around a campfire, with the best storyteller earning $SHIBASHOOT.
#SHIBASHOOT to the moon! 🌕🚀
We've just crossed the $1M mark! 💰
The momentum is incredible! 🌟
Huge thanks to our amazing community! 🙌 pic.twitter.com/ZkVaJSCioA
— shibashootout (@shibashootout) August 22, 2024
The game also features a Posse Rewards referral program, allowing users to recruit new members and earn tokens for themselves and their recruits.
Shiba Shootout operates with a DAO-like system featuring Token Governance Roundups where all $SHIBASHOOT holders can vote on important project decisions.
The Lucky Lasso Lottery also allows players to win substantial rewards by betting with $SHIBASHOOT. Shiba Shootout aims to combine skill-based play with the popular meme appeal of doges to capture a share of the P2E market.
You can stake your tokens for an impressive 908% APY, with over 36 million tokens already staked.
Investors are jumping on board quickly to buy SHIBASHOOT at $0.02 per token on the official website buy widget. However, you have to hurry as the price is set to increase in less than 7 days.
Buy SHIBASHOOT tokens here using $ETH, $USDT, or bank cards.
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