• FLOKI lost over 4.64% in the last 24 hours, trading at $0.0001364.
• The RSI stands at 52.23, suggesting a neutral market sentiment.

The crypto market is struggling to sustain the bullish momentum. Overall crypto market cap noted a brief spike at the opening of the day. Currently, it has fallen by 0.27%. Along with, the top meme coins in the market are priced in red.

Among them, the dog-themed meme coin FLOKI has been seemingly in bearish sentiment. In the last 24 hours, the meme coin lost over 4.64% and at press time trades at $0.0001364 with a market cap of $1.30 billion. The meme coin hit its 24-hour high and low price at $0.0001439 and $0.0001352, respectively. Meanwhile, the daily trading volume has declined by 14.58% and stands at $234 million, according to CoinMarketCap data.

Recently, Floki Inu officially announced a partnership with SimonsCatMeme. This aims at a reward system for users trading the CAT token through the FLOKI Trading Bot. Furthermore, it approved an investment of $200,000 from its treasury into Simon’s Cat Token ($CAT).

What’s Next For FLOKI?

Analyzing the monthly price chart, FLOKI was considerably down by 26.92%, which started trading at $0.0001864. It has dived to the low of $0.0001024. Over the past week, the meme coin has recovered from the monthly dip, noting a surge of over 18%, and hitting a weekly high of $0.0001434.

Examining the technical indicators, the price chart of FLOKI displays the short-term 9-day Moving Average currently positioned at $0.00012256 and the long-term 21-day MA is at $0.00012264. Whereas, the Relative Strength Index (RSI) stands at 52.23, suggesting a neutral market sentiment.

Looking ahead, if Floki bulls regain their upside momentum, it could target the initial resistance at $0.00014455. Whereas, if the bears sustain, the price might retrace to $0.00012806.