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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Carrieverse and Disney Ink Content Deal

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  • NFT
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    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Binance, Cristiano Ronaldo Introduce Sixth NFT Drop

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    Elite Footballers Named in $3.4 Million Crypto Fraud Case

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    Floki Inu Makes FlokiTars NFT Key to Unlocking Valhalla

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    First Force set to make Telegram debut with one of the largest NFT drops on TON

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    TON is becoming one of the top chains for NFT activity

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    Why are big games building on Avalanche instead of Ethereum?

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    NFT – what is it and why is it needed?

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    FIFA Rivals Mobile Game Debuts Worldwide with PvP Action and Digital Ownership

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    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

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    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

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    My Neighbor Alice teases new Pudgy Penguins Web3 game

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    The Crypto Turmoil in the First Half of 2025 – Why It’s Still Worth Investing

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    My Neighbor Alice Unveils Cross-Chain NFT Integration with Pudgy Penguins

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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  • Guides
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    What Is Fully Diluted Valuation (FDV) in Crypto?

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    Enhancing Security in Online Gambling with Blockchain Technology

    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Binance, Cristiano Ronaldo Introduce Sixth NFT Drop

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    Elite Footballers Named in $3.4 Million Crypto Fraud Case

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    First Force set to make Telegram debut with one of the largest NFT drops on TON

    TON is becoming one of the top chains for NFT activity

    TON is becoming one of the top chains for NFT activity

  • Gaming
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    Why are big games building on Avalanche instead of Ethereum?

    NFT – what is it and why is it needed?

    NFT – what is it and why is it needed?

    FIFA Rivals Mobile Game Debuts Worldwide with PvP Action and Digital Ownership

    FIFA Rivals Mobile Game Debuts Worldwide with PvP Action and Digital Ownership

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    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

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    Off The Grid active wallets hold steady ahead of Steam launch

    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

    My Neighbor Alice teases new Pudgy Penguins Web3 game

    My Neighbor Alice teases new Pudgy Penguins Web3 game

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    The Crypto Turmoil in the First Half of 2025 – Why It’s Still Worth Investing

    My Neighbor Alice Unveils Cross-Chain NFT Integration with Pudgy Penguins

    My Neighbor Alice Unveils Cross-Chain NFT Integration with Pudgy Penguins

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    LFG Boosts Token Launches with Community Power

    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

    I asked ChatGPT to predict Ethereum’s prospects as billionaire holders accumulate

    UAE emirate launches new free zone for digital assets, Web3 and AI

    UAE emirate launches new free zone for digital assets, Web3 and AI

  • Guides
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    What Is Fully Diluted Valuation (FDV) in Crypto?

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

    Key Innovations, Challenges, and What Comes Next

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    Types, Use Cases and Why They Matter

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Exploring what fueled Floki Inu’s 111% hike and the road ahead

May 18, 2024
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Exploring what fueled Floki Inu’s 111% hike and the road ahead
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  • FLOKI’s open interest has risen to a one-month high
  • Negative CMF trailing the memecoin hinted at the possibility of a price decline on the charts

Dog-themed memecoin Floki Inu’s [FLOKI] Futures open interest has climbed to a 30-day high. In fact, according to Coinglass’ data, the same recorded figures of $19 million at press time, having risen by 111% since the beginning of May.

FLOKI Open Interest

Source: Coinglass

FLOKI’s Futures open interest refers to the number of Futures contracts that are yet to be settled or closed. When it rises in this manner, it indicates an increase in market participants entering new positions. 

FLOKI and its growing “demand”

At press time, FLOKI was valued at $0.0002123 on the charts. Rallying by almost 20% in the last seven days, it has emerged as one of the market’s top gainers, according to CoinMarketCap.

The said hike was accompanied by a surge in the token’s daily trading volume. According to Santiment, FLOKI’s daily trading volume amounted to $1.06 billion on 15 May, representing its highest levels since 28 March. 

Confirming the spike in demand for FLOKI, its key momentum indicators lay above their respective neutral lines. At press time, FLOKI’s Relative Strength Index (RSI) was on an uptrend at 62.68, while its Money Flow Index (MFI) returned a value of 65.37.

FLOKI 1-Day Chart TradingView

Source: FLOKI/USDT on TradingView

Look before you leap

Despite the latest rally in FLOKI’s value and attempts to break above the upper line of its ascending channel, the bears continue to wield significant control.

This was gleaned from the token’s Chaikin Money Flow, which remained negative throughout the aforementioned period. Here, this indicator measures the flow of money into and out of an asset. When an asset’s CMF declines while its price climbs, a negative divergence is formed. 

See also  Exploring the Drop Shipping Market 2029

Is your portfolio green? Check out the FLOKI Profit Calculator


This divergence is a sign that the market’s buying pressure is weakening, even though the asset’s price is appreciating. Hence, it can be argued that short-term speculation drove the price rally, rather than strong fundamentals or long-term investor interest. 

At press time, FLOKI’s CMF was below zero at -0.11.

Finally, the token’s daily funding rate across crypto-exchanges has been mixed between positive and negative values since the beginning of May. 

FLOKI Funding Rate

Source: Coinglass

This signifies that the price of FLOKI’s perpetual swap contracts has fluctuated around its spot price – Usually a sign of the market being undecided about an asset’s price in the future. 

Next: Willy Woo’s Bitcoin price prediction: BTC has ‘room to run’ and that means…

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

  • FLOKI’s open interest has risen to a one-month high
  • Negative CMF trailing the memecoin hinted at the possibility of a price decline on the charts

Dog-themed memecoin Floki Inu’s [FLOKI] Futures open interest has climbed to a 30-day high. In fact, according to Coinglass’ data, the same recorded figures of $19 million at press time, having risen by 111% since the beginning of May.

FLOKI Open Interest

Source: Coinglass

FLOKI’s Futures open interest refers to the number of Futures contracts that are yet to be settled or closed. When it rises in this manner, it indicates an increase in market participants entering new positions. 

FLOKI and its growing “demand”

At press time, FLOKI was valued at $0.0002123 on the charts. Rallying by almost 20% in the last seven days, it has emerged as one of the market’s top gainers, according to CoinMarketCap.

See also  Ethereum Gets Massive $12,000 Price Tag From Research Lead Ahead Of Major Upgrade

The said hike was accompanied by a surge in the token’s daily trading volume. According to Santiment, FLOKI’s daily trading volume amounted to $1.06 billion on 15 May, representing its highest levels since 28 March. 

Confirming the spike in demand for FLOKI, its key momentum indicators lay above their respective neutral lines. At press time, FLOKI’s Relative Strength Index (RSI) was on an uptrend at 62.68, while its Money Flow Index (MFI) returned a value of 65.37.

FLOKI 1-Day Chart TradingView

Source: FLOKI/USDT on TradingView

Look before you leap

Despite the latest rally in FLOKI’s value and attempts to break above the upper line of its ascending channel, the bears continue to wield significant control.

This was gleaned from the token’s Chaikin Money Flow, which remained negative throughout the aforementioned period. Here, this indicator measures the flow of money into and out of an asset. When an asset’s CMF declines while its price climbs, a negative divergence is formed. 


Is your portfolio green? Check out the FLOKI Profit Calculator


This divergence is a sign that the market’s buying pressure is weakening, even though the asset’s price is appreciating. Hence, it can be argued that short-term speculation drove the price rally, rather than strong fundamentals or long-term investor interest. 

At press time, FLOKI’s CMF was below zero at -0.11.

Finally, the token’s daily funding rate across crypto-exchanges has been mixed between positive and negative values since the beginning of May. 

FLOKI Funding Rate

Source: Coinglass

This signifies that the price of FLOKI’s perpetual swap contracts has fluctuated around its spot price – Usually a sign of the market being undecided about an asset’s price in the future. 

Next: Willy Woo’s Bitcoin price prediction: BTC has ‘room to run’ and that means…
Tags: AheadExploringFlokifueledhikeInusRoad

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