Floki is about to have a technical outbreak, powered by the recent list on the popular American trading platform Robinhood.
Summary
- Floki rose more than 11% to $ 0.000118 on 8 August after the debut of the American trading platform Robinhood.
- Whale companies fell to 28.94 billion tokens of a monthly peak of 30.5 billion.
- Technical signals show pimples of a falling wedge and pattern with double bottom.
According to data from crypto.news, Floki (Floki) climbed on 8 August during the morning Asian trade more than 11% to $ 0.000118 before he relaxed something to $ 0.000117 at the time of the press.
Today’s price action was characterized by a strong increase in daily trading activity, with volume an increase of 125% in the last 24 hours.
Floki is now the eighth largest meme-mint with a market capitalization of $ 1.12 billion, at the back of the official Trump (Trump) and SPX6900 (SPX). In the wider market it is as the 104th largest cryptocurrency per market capitalization.
The primary director behind Floki’s profit Today is the debut about the Robinhood trading platform based in the US.
In an X message, the Floki team described the move as a ‘huge step forward’, and noted that it opens access to more than 25 million users on one of the world’s most influential retail trade platforms.
Historically, exchange listings often cause prize peaks in the short term, although the momentum can fade as speculative merchants.
However, the list coincides with mixed on-chain signals. Nansen -Data show that whale ownership has fallen from a monthly peak of 30.5 billion tokens to 28.94 billion, indicating that some large holders have been sold in force.
Conversely, the amount of floki that is kept at trade fairs has fallen to 2.12 trillion tokens, a decrease of 5.1% compared to last month, which indicates a reduced immediate sales pressure and potential tightening of the circulating diet.
Sentiment seems optimistic in derivatives markets. Coinglass facts Shows Futures Open interest rose by 20% in the last 24 hours to $ 53.6 million, an increase in the low point of this month of $ 40.2 million. Rising open interest, especially during an upward trend, often indicates that traders position for further upwards.
The long/short ratio is 0.86, indicating that short positions are currently surpassing longs. If prices continue to rise, this positioning could be the scene for a short squeeze if traders hurry to cover losses.
Floki -Price analysis
On the daily graph, Floki had exchanged in a falling wig pattern since the end of July. A falling wedge is usually considered a bullish formation, because it indicates that downward momentum is weakened. An outbreak above the upper trend line of this pattern often marks the start of a trend domination and can lead to upside down in the short term.

Floki confirmed the outbreak on August 4 when it moved above the wedge resistance at $ 0.000107.
Momentum indicators support the Bullish Shift. The MACD line is on the edge of intersection above the signal line, with decreasing red histogram stations that indicate the fading of Beerarish pressure.
Similarly, at the time of writing, the RSI has returned from over -sold -off territory to 53, indicating that buying returns without the market, but nevertheless enters overhead conditions.
On the 4-hour graph, Floki is broken above the neckline of a double bottom pattern for $ 0.000113. This setup arose after the token had repeatedly held support in the vicinity of $ 0.000098 and returned with a stronger momentum every time.

A double bottom is usually seen as a bullish reversal signal, which indicates a steady purchase interest and improving sentiment, in accordance with the bullish structure that is already visible on the daily period.
Based on this confluence of bullish technical signals, is the most likely target in the short term for Floki $ 0.000146, which represents the projected step of the outbreak and is approximately 25% above the current price.
On the other hand, if it drops below $ 0.000098, it would invalidate this setup and open the doors for a deeper correction.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.