Will Floki Coin Price Continue its Downside Move or Reversal Ahead?
Key Insights:
- With a 7.5% price decline, FLOKI’s chart signals potential downside momentum ahead.
- The daily chart reveals that the FLOKI coin price could face a hurdle in the coming days.
- Despite the bearish price action, FLOKI’s MVR ratio suggests a potential reversal, which could be challenging for the meme coin.
Amid market uncertainty, the Floki coin price has registered a decline of over 7.5% and appears to be continuing this momentum.
With this notable price drop, the chart flashes a bearish signal, whereas on-chain metrics hint at a potential reversal.
Current Price Momentum and Reversal Sign
At press time, FLOKI was trading near the $0.0000765 level and had recorded a notable 8% price decline over the past 24 hours. Due to the current market scenario and price drop, participation in the meme coin has surged significantly, indicating fear of a further decline.
Data from CoinMarketCap reveals that FLOKI’s trading volume during the same period jumped by 15% compared to the previous day.
This jump in trading volume amid the price decline suggests strong bearish momentum in the meme coin.
Amid the price decline, a crypto expert recently shared a post on X (formerly Twitter) noting that FLOKI’s MVRV value is below 1, indicating that the FLOKI coin might be undervalued and could see a potential price reversal.
FLOKI: Market Value to Realized Value Ratio (MVRV) pic.twitter.com/vJNdXUgyi3
— Cryptollica⚡️ (@Cryptollica) May 3, 2025
Bearish On-Chain Metrics
Amid this bearish momentum, traders and investors appear to be abandoning the FLOKI meme coin, as reported by on-chain analytics firms Coinglass and IntoTheBlock.
Data from IntoTheBlock reveals that participation by whales and institutions in the meme coin has dropped significantly. According to the data, FLOKI’s large transaction volume has declined by 55%, indicating reduced participation due to its continued downward momentum.
Not only whales, but investors and long-term holders also appear hesitant to move FLOKI meme coins in or out of exchanges over the past 24 hours. Data from spot inflow/outflow reveals that exchanges have witnessed an inflow of $80.70K worth of FLOKI, indicating a potential sell-off.
In addition to reduced participation from whales and investors, traders are also strongly betting on the bearish side.
Data reveals that traders are currently over-leveraged, with key levels at $0.0000727 on the lower side and $0.0000839 as resistance. They have built $246K worth of long positions and $446.5K worth of short positions.
This metric appears to support the bearish outlook for the FLOKI coin.
When combining all these metrics, it appears that bears have been dominating the meme coin, aiming to push the FLOKI coin price lower in the coming days.
Floki (FLOKI) Price Action & Technical Analysis
According to expert technical analysis, FLOKI appears bearish and is poised to continue its downside momentum.
The daily chart reveals that the FLOKI coin price has formed a bearish engulfing candlestick pattern at the resistance level, which has pushed the meme coin lower.
Based on recent price action, the FLOKI coin price could experience another 7.5% downside momentum until it reaches the next support level of $0.0000708.
On the other hand, the FLOKI coin price could see a reversal if sentiment changes and the price holds above the $0.00007600 level.
Despite the price decline and bearish market sentiment, FLOKI’s Chaikin Money Flow (CMF) indicator is in positive territory, currently standing at 0.06, signaling strong buying pressure.
Looking at all these parameters, it appears that the current level is providing support for the meme coin.
However, traders and investors still view the meme coin as bearish, and the market sentiment reflects this. On the other hand, the indicator flashes a potential price reversal sign, which seems challenging for the FLOKI coin price.
