FLOKI Explodes 12% on Massive Volume, Potentially Signalling Bullish Momentum
Memecoin FLOKI rockets 12.1% in a 24-hour session, blasting from $0.0000815 to $0.0000915 on massive volume, while the broader CoinDesk 20 market index gained only 1.4%.
Trading range hit $0.0000136, representing 16.8% volatility, in accelerated price action, specifically around the 13:00-16:00 UTC window on July 8.
FLOKI smashed through multiple resistance barriers, according to the model. The volume exploded to 274.1 billion tokens at 16:00 UTC, which is five times the 24-hour average of 58.4 billion.
Strong volume support materialized at $0.0000851 level during the 12:00-13:00 UTC timeframe. This established launch pad for a breakout above $0.0000880 resistance. This sustained upward momentum, combined with elevated trading volumes, signals institutional accumulation and potential bullish sentiment.
The move comes amid news of FLOKI officially launching Valhalla last month, a blockchain-based game inspired by Norse mythology. The play-to-earn economy of the game is built around FLOKI tokens, which players earn by completing in-game tasks and winning battles.
Technical analysis highlights
- Price rockets from $0.000082 to $0.000092 representing 12% gain over 24-hour period, according to CoinDesk Research's technical analysis data.
- Volume spikes hit 274.1 billion tokens at 16:00, nearly five times the average.
- Critical resistance break above $0.000088 level with strong volume confirmation.
- Support established at $0.000085 level during 12:00-13:00 consolidation phase.
- New session high of $0.000092 achieved during final hour rally.
- Sustained buying pressure maintained above $0.000090 psychological level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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