$FLOKI Facing Historical Reversal Signals After a 40% Rallyđ„đ„
The current price of FLOKI is trading at US$0.000135, marking a 38% increase over the last seven days. This meme coin is trying to secure US$0.000132 as a support floor, which is crucial for maintaining recent gains.
The broader macro moment behind FLOKI's recent gains is diverse. The MVRV (Market Value to Realized Value) ratio is currently at 32.62%, indicating that investors who bought FLOKI in the last month are making a 32% profit.
While this shows positive market sentiment, previous occurrences when the MVRV ratio reached this range often ended with reversals, as investors tend to sell when profits are high.
A range of 19% to 32% in the MVRV ratio is considered a âdanger zone,â as many traders tend to take profits, which could potentially lead to a price correction.
đIf this support level holds, FLOKI could push further towards US$0.000148 in the coming days.
đŁHowever, if investor sentiment changes and traders start to sell their holdings, the price of FLOKI could face a correction. If support at US$0.000132 fails, this altcoin may drop to US$0.000114, invalidating the bullish thesis and erasing recent gains.
