FLOKI gained 6% shortly after its Robinhood listing, reaching a market cap of 1.12 billion USD, ranking it as the eighth-largest memecoin. Despite this initial boost, market analysts warn of upcoming volatility.
Investors are exercising caution, highlighted by 1.16 million USD in recent inflows and 68,000 USD in liquidations in the last 24 hours. This suggests potential selling pressure as some traders offload their FLOKI holdings.
Technical indicators reveal a bearish inverted flag and pole pattern forming, which may lead to a 10% downturn if prices close below 0.00001055 USD. Current trading volume surged by 51%, indicating increased market activity.
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