{"id":563559,"date":"2024-08-12T09:32:03","date_gmt":"2024-08-12T09:32:03","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=563559"},"modified":"2024-08-12T08:48:49","modified_gmt":"2024-08-12T08:48:49","slug":"the-floki-price-plunges-16-in-a-month-as-experts-say-consider-this-new-meme-coin-for-parabolic-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/the-floki-price-plunges-16-in-a-month-as-experts-say-consider-this-new-meme-coin-for-parabolic-gains","title":{"rendered":"The FLOKI Price Plunges 16% In A Month As Experts Say Consider This New Meme Coin For Parabolic Gains"},"content":{"rendered":"

The Floki price dropped 8% in the last 24 hours <\/span>to trade at $0.0001180<\/span><\/a> as of 00:43 a.m. EST, on trading volume that rose 28% to $188 million.<\/span><\/p>\n

This comes as Floki<\/a> continues to register a negative in the last month, having tumbled 16%. The <\/span>meme coin space<\/span><\/a> has also dropped 5% to a $40 billion market capitalization.<\/span><\/p>\n

Floki Price Could Break Out<\/h1>\n

After dropping at the beginning of August to the $0.000102 support, the Floki price bulls were able to stage a trend reversal, pushing FLOKI to the $0.0001294 resistance, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

FLOKI<\/a> has now been trading below this resistance but above the $0.0001156 support zone, in a sideways pattern.<\/span><\/p>\n

Current technical indicators show that FLOKI is currently on a bearish trend but with signs of rebounding.<\/span><\/p>\n

The price of Floki trades below both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the bearish sentiment.<\/span><\/p>\n

Moreover, the Relative Strength Index (RSI) is dropping below the 50-midline level as it closes in on the 30-oversold level, currently at 37. This is an indication that there is some selling pressure as the asset now becomes undervalued.<\/span><\/p>\n

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FLOKI Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

With the token becoming undervalued, this may also be a sign of a buying signal. If the buying persists, FLOKI could surge to breach the upper boundary of the sideways pattern, as the bulls target the $0.00018 resistance zone.<\/span><\/p>\n

However, the 50-day SMA still trades below the 200-day SMA, forming a death cross at $0.0001663. A death cross could still prompt the bears to exert more pressure on the token. In such a scenario, FLOKI could plunge back to the $0.0001089 major support level.<\/span><\/p>\n

As the Floki price bulls search for buying opportunities, investors are betting big on the Olympic-themed token, <\/span>The Meme Games (MGMES)<\/span><\/a>, which has already garnered over $357K in its ongoing presale.<\/span><\/p>\n

Olympic-Themed The Meme Games – The Best Meme Coin To Buy Now?<\/h2>\n

Blending the excitement of the Olympics with the crypto world,<\/span> The Meme Games<\/span> allows users to bet on meme characters in fun, competitive events. <\/span><\/p>\n

The Meme Games introduces a gamified experience where users can bet on meme characters like Dogecoin ($DOGE), Pepe ($PEPE), DogWifHat ($WIF), Brett ($BRETT) and Turbo ($TURBO), competing in Olympic-style events.<\/span><\/p>\n

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This is what happens when $TURBO<\/a> has one too many espresso's. ☕️ #Paris2024<\/a> #Crypto<\/a> #DOGE<\/a> #BRETT<\/a> pic.twitter.com\/TngVhXoMvE<\/a><\/p>\n

— The Meme Games (@MemeGames2024) August 8, 2024<\/a><\/p><\/blockquote>\n