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FLOKI Soars 12% as Trading Volume Erupts, Fueling Bullish Outlook
Memecoin FLOKI surged 12.1% over the past 24 hours, leaping from $0.0000815 to $0.0000915 amid a burst of trading activity that far outpaced the broader crypto market. By comparison, the CoinDesk 20 Index posted a modest 1.4% gain over the same period.
FLOKI’s trading range widened to $0.0000136 during the session—a 16.8% swing—driven largely by frenzied action between 13:00 and 16:00 UTC on July 8.
The token broke through multiple resistance levels as trading volume skyrocketed to 274.1 billion tokens at 16:00 UTC, nearly five times the 24-hour average of 58.4 billion.
Robust support emerged at $0.0000851 during the midday hours, creating a launchpad for the subsequent rally past the $0.000088 resistance level. The strong upward momentum and significant volume point to potential institutional buying and a bullish shift in sentiment.
Adding fuel to the rally is ongoing excitement surrounding Valhalla, FLOKI’s recently launched blockchain-based game inspired by Norse mythology. The game features a play-to-earn economy where players earn FLOKI tokens for completing tasks and winning battles.
Technical Highlights
- FLOKI jumped from $0.000082 to $0.000092—a 12% gain in 24 hours, per CoinDesk Research data.
- Trading volume peaked at 274.1 billion tokens at 16:00 UTC, roughly 5x the daily average.
- The token broke above key resistance at $0.000088 on strong volume.
- Solid support formed at $0.000085 during a midday consolidation.
- A new session high of $0.000092 was reached in the final hour of trading.
- FLOKI maintained buying pressure above the $0.000090 psychological level.
