Floki Inu (FLOKI) price jumps 66% as large holders add to the buying

FLOKI has broken above the 50-day and 200-day moving averages. Trading volume also increased a lot, suggesting that buyers were strong in the market.

Key Insights:

* Floki Inu (FLOKI) price has surged 66% in recent days after breaking through a key level, with large holders continuing to add to the buying pressure.

* The token has also breached the 50-day and 200-day moving averages, while trading volume has soared, indicating strong buyers in the market.

* Market analysts are closely following the trends, noting that a golden cross formation could occur as the short-term average moves above the long-term average, an indicator that traders use to confirm a shift in the market.

Floki Inu (FLOKI) price has shot up by 66% in recent days as the token broke through a key resistance level, which has brought in large-scale buyers to continue fueling the rally.

At the time of writing, FLOKI is trading hands at around $0.00016, up 10.03% over the past 24 hours. The token has now broken past the 50-day and 200-day moving averages, while trading volume has also increased significantly, which indicates that the buyers are strong in the market.

This breakout is also signaling a change in the trend, which could herald the start of a strong upward trend for FLOKI.

As the price broke past its range at 0.000028 and continued to rise, it also moved past its moving averages, which are commonly used to indicate strong periods in the market. Such a setup could also bring about the formation of a golden cross, where the short-term average line moves above the long-term average, an indicator that traders use to confirm that the market is turning bullish.

The numbers show that a high number of whale wallets have been accumulating FLOKI steadily.

With more funds entering the market, larger investors are taking part and contributing to the increase in the token’s price. This ongoing accumulation is a major factor behind the recent 25% surge in the token.

The number of trades happening on exchanges has also gone up as more people are buying and the market shows volatility.

Individuals are keeping an eye on how wallets are expanding and how transactions are increasing in key regions.

Elliott Wave Pattern and RSI Suggest More Upside

Market analyst Bluntz_Capital has identified a five-wave Elliott Wave structure beginning in March–April, indicating a macro bullish shift.

According to this analysis, FLOKI may currently be entering a corrective phase targeting the 0.5–0.618 Fibonacci region between $0.00008556 and $0.00007647. A successful retest of this zone could trigger another upward impulse in the wave cycle.

Meanwhile, the Relative Strength Index (RSI) stands at 66.50, highlighting strong market momentum but suggesting potential overbought conditions if it breaches the 70 level. A decrease in RSI towards 50 could open possibilities for a new rally after a brief period of price decline.

Futures Market Data Confirms Bullish Sentiment

Coinglass data reveals a substantial increase in FLOKI's futures open interest, reaching the highest point observed since December of the previous year.

The amount of open interest (OI) indicates the total value of futures contracts that are currently open and unsettled.

As depicted in the chart, a correlation is evident between price movements and FLOKI's futures open interest.

A significant rise in open interest occurred as FLOKI's price rallied from $0.00006 to $0.00015, which is in line with increased trader involvement and a strong bullish trend.

This factor is crucial as it indicates that more traders are becoming engaged, leading to a greater influx of funds into bullish assets.

Analyzing the May–June and November–December cycles reveals repeated spikes in both OI and prices, which were followed by the market entering extended rallies.

Considering that the structure remains similar to past cycles, a further increase in open interest could be pivotal in propelling FLOKI to new highs if the present conditions persist.

Market Forecasts Show Bullish Continuation

According to recent predictions, the price of Floki Inu (FLOKI) is expected to rise by 235.62%, potentially reaching a peak of $0.000354 by June 2025.

Over the past 30 days, the token has experienced a gain of 60%, with an average daily price volatility of 22.02%, and it has increased on 18 out of 30 trading sessions.

Technical market indicators are also indicating a possible rise in the trend. Among these indicators, the Fear & Greed Index has a reading of 70, which falls within the “Greed” range, suggesting increasing risk appetite among traders.

In this article, the views, and opinions stated by the author