Summary
TLDR: FLOKI token holders are seeing a rise in profitability, with a high percentage of profitable addresses and a bullish price trajectory. The RSI has surged, indicating potential overbought conditions, but a slight adjustment is expected. FLOKI’s price could reach $0.0003 soon if it maintains its current support level, but a market downturn could change its trajectory. Investors should stay vigilant and monitor support levels to mitigate potential losses.
Key Points
1. FLOKI token holders are witnessing a wave of green, indicating a robust and climbing price trajectory, aligning market sentiment and on-chain data for a compelling narrative.
2. Profitable FLOKI holders have increased significantly, with the percentage of profitable addresses growing from 30% to 94% in just one day. This stability indicates confidence in the coin, with the last time reaching such high profitability being over a year ago.
3. FLOKI RSI has skyrocketed in the last 2 weeks, reaching a commanding 93 on March 7, signaling a potential bearish signal for investors. However, historical context shows that FLOKI can maintain its upward price momentum even with high RSI values, suggesting a possible correction in the near future.