FLOKI Hits 2-Month High: Time to HODL or Dump?

• FLOKI surges 18%, hitting a two-month high, and entering the top 50.
• Strategic investments yield substantial profits for memecoin FLOKI and MAGA.

In a month where memecoins seemed to waver, two outliers have swiftly risen to prominence: PEPE and FLOKI. While the frog coin consistently reached new all-time highs, FLOKI surged ahead with double-digit gains, culminating in today’s two-month high of 0.00026795.

Presently, FLOKI commands attention with an 18% increase, trading at $0.0002639. Its market capitalization has surged correspondingly, propelling it into the top 50 ranks. Trading volume has soared by an impressive 182%, indicating investor interest. Notably, it surged 55% in the past seven days.

Technical indicators underscore FLOKI’s bullish momentum. The nine-day exponential moving average (EMA) stands firm at 0.00022704, reflecting sustained upward pressure. However, caution is warranted as the daily Relative Strength Index (RSI) hovers at 72.75, signaling an overbought market condition.

Noteworthy are the strategic moves made by prominent investor unipcs.eth, who strategically allocated resources. With $276.4 ETH ($863K) invested in FLOKI and $18.45 ETH ($57K) in MAGA, substantial gains have been realized. In under two months, a staggering $3.4M (+6005%) profit was secured from MAGA, while it yielded a commendable $245K (+28%).

This surge in community-driven coins exemplifies their outperformance against the broader market. FLOKI, for instance, has witnessed a remarkable 55% surge in just six weeks, while MAGA soared an astonishing 175% in a mere three weeks, achieving an all-time high of $12.80.

If the bitcoin bulls continue their bull run, it might reach $0.00037998 and $0.000248003 as next resistance. But if the bears make a way, it might reach $0.00015982 and on the other support level $0.00010894 .

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