The recent pullback in FLOKI reflects broader weakness across the meme coin segment. However, technical indicators suggest that selling momentum could be easing as market participants begin repositioning after an extended decline.
**Drop in Open Interest and Slowing Momentum**
Market data reveals a notable contraction in aggregated open interest (OI), dropping from above 4.8 million to approximately 3.27 million. This decline indicates a significant liquidation of leveraged positions, as traders reduce exposure amid heightened uncertainty. Such a fall in OI during a price downtrend often reflects long positions being flushed out, leaving the market in a cleaner state for potential recovery.
Analysts note that if FLOKI maintains price stability above $0.0000620 while OI begins to climb again, it could signal a renewed bullish phase. Conversely, failure to attract fresh participation may see the price drifting toward deeper support levels near $0.0000580 before any recovery effort takes hold. Overall, the market appears to be in a transition phase, shifting from speculative excess toward a more measured accumulation environment.
**Market Data: FLOKI Down 5.16% as Market Cap Nears $600 Million**
According to BraveNewCoin, FLOKI is currently priced at $0.00006192, marking a 5.16% decline over the past 24 hours. The project’s market capitalization stands at $598.32 million, with a 24-hour trading volume of $58.04 million. Its circulating supply is approximately 9.65 trillion tokens, ranking it 147th globally by market cap.
Despite the recent dip, liquidity levels remain strong, and the price continues to consolidate within a defined range. This pattern suggests that sellers may be losing strength as the market seeks equilibrium.
**Technical View: Near Lower Bollinger Band with Bearish Bias**
TradingView analysis shows FLOKI/USDT hovering around $0.00006178, trading near the lower Bollinger Band at $0.0000565 after failing to sustain movement above the midline. This position indicates that sellers still dominate short-term action, although repeated touches at the lower band without breakdowns often precede a base formation.
A close above the middle Bollinger Band ($0.0000680) would be an early sign of bullish reversal potential, opening the path toward the upper band resistance at $0.0000795.
From a capital flow standpoint, the Chaikin Money Flow (CMF) stands at -0.12, showing that outflows continue to outweigh inflows. Buyers remain tentative, but a cross above the zero line alongside an uptick in trading volume would validate renewed accumulation.
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In summary, while FLOKI faces short-term selling pressure, technical signals hint at a possible stabilization and recovery phase, provided key support levels hold and market participation increases.
https://bitcoinethereumnews.com/tech/floki-price-prediction-token-holds-0-000062-support-as-open-interest-drops-sharply/
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