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The Floki price has surged 24% in the last 24 hours to trade at $0.00009638 as of 1:00 a.m. EST on a 6% drop in trading volume to $369 million.
Floki Price Signals An Upcoming Rebound
The FLOKI price has come under intense selling pressure after reaching an intraday high of $0.00010589 before slipping to a low of $0.00009557. This movement has raised concerns about a potential breakdown below key technical levels.
The latest decline comes amid a prolonged downtrend that began after FLOKI’s parabolic rally in November, where prices surged before reversing into a bearish channel. Multiple sell signals have appeared on the meme coin’s chart, reinforcing bearish sentiment. However, FLOKI is now testing a major support zone between $0.00009500 and $0.00010000, a level that previously triggered strong buying interest.
FLOKIUSD Analysis Source: Tradingview
Floki Price Nears Oversold Levels – Will Buyers Spark A Rebound?
According to technical indicators, FLOKI may be approaching oversold conditions, with the Relative Strength Index (RSI) at 30.74, just above the oversold threshold of 30. This could indicate that a short-term rebound is possible, especially if buyers step in at the current support level. A successful bounce could see the Floki price retest resistance at $0.00011815, with further upside potential toward $0.00015000 if bullish momentum strengthens.
On the flip side, if FLOKI fails to hold above $0.00009500, it could trigger a deeper decline, with the next major support near $0.00008000. Given the sustained downtrend, traders remain cautious, watching for signs of a trend reversal or further selling pressure.
The next few trading sessions will be crucial, as FLOKI’s reaction at the support zone will determine whether a relief rally or a new leg down will be next. Investors are advised to closely monitor buying volume and price action before making their next move.
Traders Flock To Catslap (SLAP)
As the Floki price struggles to bounce back, more traders are turning to new meme coin, Catslap (SLAP), the token behind a viral web game where players earn crypto by slapping cultural icons.
The Catslap team recently burned $1 million worth of tokens, effectively reducing the total supply and potentially driving positive price momentum for the popular Slap-to-Earn cryptocurrency. To date, a total of 1.2 billion SLAP tokens, valued at over $1.5 million, have been burned, reinforcing the project’s deflationary model.
Additionally, the Slapdrop contest successfully distributed a $100,000 prize pool, further fueling engagement within the community.
It's done. We just burnt $1,000,000 of $SLAPhttps://t.co/grFgQzV4ej pic.twitter.com/iMG1HkF0Ri
— Catslap (@CatSlapToken) January 31, 2025
A successful token burn also marked the end of the Slapdrop contest, with investors staking over 500 million SLAP tokens. While the staked principal remains secure, any unclaimed staking rewards are set to be burned on Feb. 14, adding to the token’s deflationary mechanics.
MEGABURN Could Cause SLAP’s Price To Skyrocket
Following an impressive 969% surge from its presale price, SLAP is rapidly gaining traction, fueled by growing investor interest and potential pro-crypto policies in the US. As it gains momentum, Catslap is positioning itself as a leader in the meme coin sector, with the potential to outpace rivals like MEOW and MOG.
With the upcoming “MEGABURN” event scheduled in the next 9 days, investors are eagerly anticipating a huge price surge. Even crypto influencer Jacob Crypto Bury, who boasts over 45K subscribers on YouTube, has predicted that SLAP could become the next 100X meme coin to dominate the market.
Additionally, Catslap’s partnership with Best Wallet (BEST), one of the fastest-growing and most innovative crypto wallets, also gives it exposure to over 105,000 users.
The current price of SLAP stands at $0.00117593, and it can be purchased directly on the project’s website using ETH, USDT, or a bank card. Alternatively, investors can also purchase the meme coin through the centralized exchange MEXC.
Buy SLAP here before the project’s “MEGABURN” event in 9 days.
Related Articles:
- Top Meme Coins to Invest In Now, February 03
- Best Crypto To Buy The Dip As Altcoins Crash
- Catslap Burns $1M $SLAP, Supercharging Upside Price Potential
Catslap (SLAP) - New Cat Meme Coin On Ethereum
- Listed on MEXC
- Featured on Cointelegraph
- Trending on CoinGecko, DEXTools
- 10,000+ Holders
- Slap To Earn Utility
- Token Burns
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