FLOKI was building a bullish divergence, right on top of a major support level.
FLOKI holders hit about 450K but only 18% of them actually bought the token.
FLOKI Inu is the 6th biggest meme coin with $544.41M market cap and potential of $10-$20B when the bull run finally takes off this year.
A bullish divergence appeared on the Floki Inu price on the 2-day chart near an essential support area at $0.000058221.The RSI pierced above the oversold mark, yet below the midpoint indicating that weak momentum was starting to reverse.Price testing of this support area took place several times in history as it provided strong bases before price surges or declines occurred.A reversal toward earlier resistances could start if FLOKI sustains above this critical level. This support held but more losses could occur if it was unsuccessful.A vital support zone in the form of a fair value gap at $0.000018 absorbed price movements, creating the previous uptrend as the area repeatedly acted as a demand zone.After a potential rebound from this point, analytics indicated that FLOKI Inu price could probably move toward $0.000350 resistance to match historical trading areas.FLOKI/USDT 2-day chart | Source: TradingView
The strength of bullish momentum could propel FLOKI to attempt breaking through the $0.000350 resistance level despite previous price rejections at this point.A bullish reversal showed potential because selling pressure had reached its peak as per the RSI divergence.However, falling below $0.000058221 could start a descent towards $0.000018 which marked the previous turning point.The descending pattern combined with RSI divergence showed potential for extended bearish decline so there was a possibility of weak bearish effects.If the volume spikes corresponding to the RSI, the reversal attempt could become stronger.Prolonged low trading volume combined with no breaks above could keep FLOKI on its downtrend in the search for more liquidity before recovering substantially.
Number of Holders Could Fuel Floki Inu Price
For its holders, the meme coin saw an increase in FLOKI adoption, which was seen in the manner that its total holders were more than 449.3K.Tokens were mostly spread through transfers since a mere 18.05% of individuals bought them through swaps during this period.This showed that most holders received the tokens from transfers or airdrop rather than acquiring them through new purchases.Only 0.45% of wallets got their tokens through airdrop distribution while 81.50% of the wallets got tokens through transfer or had tokens in-house.FLOKI holder analysis | Source: XThe holder population continued its gradual climb after the addition of 2045 new members during the last thirty days resulting in a 0.46% growth.New wallet accumulation during seven days exceeded 452 which matched the three-day count of 192 new wallets demonstrating continuous purchasing behavior.The supply was fairly distributed among holders because the top 10 wallets possessed 28% ownership and the top 500 wallets regulated 35%.Future changes in swap-based acquisitions could indicate how well demand grows organically.When transfer-based additions demonstrate dominance FLOKI’s holders tend to shape its price trajectory since new buyers could limit impact unless fresh demand enters the market.
Floki Inu Market Cap
According to CoinMarketCap, FLOKI Inu ranked 6th among top meme coins with a market cap of $544.41M and trading at $0.00005656 while demonstrating a 3.61% intraday drop.FLOKI might achieve market capitalization between $10B and $20B if the anticipated bull market arrives. Meanwhile, its growth rate could stand between 17x and 35x.As of press time, the market caps of the top memes like DOGE was $24.71B, SHIB had $7.28B, PEPE had $3.01B, as BONK and TRUMP had $878.15M and $1.86B respectively.The smaller market capitalization of FLOKI gave it enhanced growth prospects only if the market experienced an uptrend.
