Floki Inu (FLOKI), similar to other meme tokens, is aligning with the prevailing market trend over the past few days. The cryptocurrency‘s price is in a steady upward trend, breaking short-term resistance levels.
Upward Trend in FLOKI
There has been a significant decrease in the volume of FLOKI sent to exchanges. This indicates increased activity and potential interest from investors. Analyzing the daily time frame chart of Floki Inu reveals a consistent upward trend over the past three days. On May 13, the cryptocurrency increased by over 8%, raising its price to approximately $0.00018.
The next day, it maintained this price level with a 3% increase. At the time of writing, FLOKI is trading with an impressive 12% increase, reaching approximately $0.00021. This upward momentum allowed the cryptocurrency to surpass the initial resistance levels of $0.00019 and $0.00020.
The Relative Strength Index (RSI) approaching 65 may indicate a strong bullish trend nearing the overbought zone. Additionally, the indicator may suggest potential for further price increases. Overall, expert analyses indicate a positive outlook for FLOKI in the near term. Moreover, network activities show an increase in Floki’s volume.
Increase in FLOKI’s Volume
Analyzing the volume chart of the cryptocurrency reveals a recent increase in trading activities. Last month, the volume decreased, with the highest recorded volume reaching approximately 506 million. However, on May 13, the volume showed a significant increase, surpassing 360 million dollars by the end of the day.
As of May 14, the volume exceeded 800 million dollars. This means that Floki Inu’s volume reached these levels for the first time since March. Currently, the volume was over 800 million dollars, surpassing 500 million dollars for the second consecutive day. This upward trend in volume may indicate a significant increase in trading activities reflecting positive on-chain dynamics for FLOKI.
