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Tag: Floki

  • Elon Musk Reignites Floki Frenzy, Can FLOKI Hold Gains as Crypto Market Falls 3%?

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    Making a 6% weekly uptick, FLOKI recently ripped higher after Elon Musk posted an AI-generated video of his Shiba Inu “Floki” sitting at a CEO desk, reigniting meme-coin risk appetite even as the broader crypto market slipped 3%.

    Within hours, FLOKI’s price jumped nearly 30% and 24-hour volume exploded 780–817% to roughly $656–$662 million, lifting the token to an intraday high near $0.000088, its best level in almost two weeks.

    Related Reading: All It Took Was A Tweet: FLOKI Jumps 27% After Musk Mentions It

    Mentions across X, Reddit, and Telegram climbed 65%, while crypto’s Fear & Greed Index nudged from Fear (37) to Neutral (52), signaling fresh retail participation. Dogecoin (DOGE) and Shiba Inu (SHIB) logged modest gains, but FLOKI led meme coins by a wide margin.

    Breakout Case vs. Bull-Trap Warnings

    Technicians say FLOKI is retesting a pivotal demand band around $0.00008. A daily close and hold above $0.000075 keeps the breakout thesis alive toward $0.00009, with $0.00010 on the table if momentum and volumes persist.

    Open Interest surged 162% to about $37.5 million, and long-side liquidations wiped out $275K in shorts during the squeeze. On Binance, negative funding suggests crowded shorts paying to stay positioned, fuel for further upside if price grinds higher.

    Still, some analysts flag bull-trap risk. The RSI tipped into overbought (>70) during the spike, a zone that historically invites cooling moves; a quick reset back into the 50–70 band would be a healthier springboard.

    Liquidity “heatmaps” show dense clusters both above and below spot, implying two-way volatility as the price hunts orders before choosing direction. If FLOKI fails to reclaim/hold $0.00009, technicians eye pullbacks toward $0.000072, with a deeper bear case pointing to $0.00004 if risk aversion returns.

    FLOKI's price records some losses after a small push upwards on the daily chart. Source: FLOKIUSD on Tradingview

    Key FLOKI Levels as the Market Slips 3%

    Currently, FLOKI hovers around $0.0000737, down 12% on the day, mirroring the broader market downturnwith Bitcoin near $107,000 and Ethereum around $3,800.

    In the near term, traders are watching key technical levels that could dictate FLOKI’s next move. Immediate support sits between $0.000072 and $0.000070, with a deeper downside risk toward $0.00004 if momentum fails to hold.

    Related Reading: CryptoQuant’s Moreno Eyes Bitcoin At $195,000 If This Happens

    The $0.000080 level acts as the crucial pivot point, a decisive close above it would strengthen the bullish trend and open the path toward higher targets. On the upside, resistance lies at $0.00009, followed by $0.00011 if buying volume expands.

    With liquidity thin and sentiment still fragile after recent liquidations, celebrity-driven spikes can overextend quickly. However, if flows remain constructive, negative funding persists, open interest stays elevated, and spot demand confirms, FLOKI’s rally could reignite, potentially surpassing the psychological $0.00009 level.

    Cover image from ChatGPT, FLOKIUSD chart from Tradingview

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    James Halver

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  • FLOKI leads in daily gains ahead of $45m token burn

    FLOKI leads in daily gains ahead of $45m token burn

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    FLOKI topped today’s market with a 70% surge, becoming the fifth-largest meme coin.

    The meme coin sector seems to be making the most gains in the current bull market. Today, the overall market cap for meme coins reached $62 billion, increasing 9% in 24 hours. FLOKI has emerged as the top gainer today, rallying over 70% and approaching its all-time high. 

    Friday’s surge also saw FLOKI overtake BONK and Fantom in terms of market cap. Although this surge is mainly attributed to the overall bull market, several additional developments in the FLOKI ecosystem have driven user sentiment toward the viking-themed meme token. 

    The FLOKI team announced today that its flagship P2E metaverse game, Valhalla, has been launched on the testnet and will deploy on the mainnet later this year. FLOKI will also burn $45 million in tokens on Saturday, significantly reducing the meme coin’s circulating supply. 

    The token’s staking program reached an all-time high TVL on the Ethereum and Binance Smart Chain networks, surpassing $420 million. Earlier this week, the token was also listed on the popular crypto exchange Uphold.

    These latest milestones have driven positive market sentiment for FLOKI, as the token’s current Fear & Greed Index shows extreme greed. 


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    Mohammad Shahidullah

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  • FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

    FLOKI Grows Over 300% As Memecoin Breaches $400 Million TVL

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    Floki Inu (FLOKI), a canine-themed cryptocurrency, has witnessed a remarkable surge in its price, capturing the attention of investors, traders, and enthusiasts alike. The coin’s value has experienced a sharp increase, with the past 24 hours alone seeing a surge of over 50%.

    FLOKI Tallies An Impressive 336% Weekly Gain

    However, it is the weekly timeframe that has truly astounded market observers, as FLOKI recorded an impressive rally of 336%. This surge in price comes on the heels of a community-backed proposal to burn 2% of the token’s supply.

    The proposal to burn tokens was met with overwhelming support from the community, with nearly 90% of votes favoring the initiative. The top voter staked a staggering 117 billion tokens, demonstrating the belief in the long-term security and stability of the Floki project.

    The burn event is scheduled to take place after a seven-day period, and its purpose is to minimize the risks associated with token exploitation and dumping, thereby ensuring the project’s sustainability.

    Social Media Buzz And Positive Sentiment 

    An investigation by NewsBTC has revealed a surge in social media mentions for Floki Inu in recent days, indicating the continued popularity of the meme coin within the cryptocurrency community.

    Moreover, a rise in weighted sentiment suggests that positive views towards the token prevail at the time of writing. This growing social media buzz and optimistic sentiment have played a role in attracting attention to Floki Inu and contributing to its meteoric rise in value.

    Source: Santiment

    FLOKI Total Value Locked Soars

    Meanwhile, Floki has reached a noteworthy accomplishment. Total Value Locked (TVL) across its ecosystem goods has exceeded $400 million. This accomplishment follows the cryptocurrency’s all-time high of $366 million, which showed its quick rise and investor appeal.

    As the crypto market continues to evolve, all eyes remain on Floki Inu and its future trajectory. Market participants eagerly await the outcome of the token burn event and closely monitor the impact of social media trends and cautionary indicators on the coin’s price.

    Total crypto market cap at $2.3 trillion on the daily chart: TradingView.com

    The coming days will shed more light on whether Floki Inu can sustain its current momentum or if a correction is on the horizon.

    Related Reading: Shiba Inu Just Ballooned To 124% – What’s Pushing The Price Up?

    Floki Inu’s recent surge in price, driven by overwhelming community support for a token burn proposal, has captured widespread attention. The coin’s popularity on social media and positive sentiment within the cryptocurrency community further contribute to its rise.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Hong Kong regulators wary of unauthorized crypto staking

    Hong Kong regulators wary of unauthorized crypto staking

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    Hong Kong’s Securities and Futures Commission (SFC) has issued a cautionary statement, alerting the public to be wary of high-yield crypto investment schemes including the “Floki Staking Program” and “TokenFi Staking Program.” 

    SFC warn investors 

    According to a recent announcement, the Hong Kong Securities and Futures Commission (SFC) has made it clear that both the “Floki Staking Program” and “TokenFi Staking Program” lack authorization for offering to the Hong Kong public. 

    The regulator says both offerings involve cryptocurrency staking services that claim to deliver notably high annualized returns, ranging from 30% to over 100%, therefore, investors must exercise caution and diligence in light of these potentially suspicious schemes.

    Additionally, the administrator overseeing these products has been unable to satisfy the SFC regarding the feasibility of achieving the high annualized return targets.

    Highlighting the accessibility of information about these products to the Hong Kong public through the Internet, the SFC took proactive measures. On Jan. 26, the commission added both products and their related details to the SFC’s Suspicious Investment Products Alert List.

    Expressing concern, the SFC cautioned investors about “staking” arrangements associated with virtual assets, noting their potential classification as unauthorized collective investment schemes and the inherent high risk. 

    The regulator says these investment products carry elevated risks, and as such, investors may find themselves with limited or no protection under the Securities and Futures Ordinance (SFO), exposing them to the risk of losing their entire investments. 

    The SFC advised investors to exercise caution, especially when encountering investment products that promise returns that seem “too-good-to-be-true,” urging vigilance in making investment decisions.

    It will be recalled that in a statement released on Dec. 13, 2022, the SFC reiterated its caution to investors regarding the risks associated with virtual asset investment schemes, specifically highlighting “staking” services. 

    The SFC emphasized that such arrangements could potentially be categorized as Collective Investment Schemes (CIS), directing this reminder to both investors and individuals participating in these virtual asset arrangements.

    In line with its commitment to regulatory oversight, the SFC asserted its readiness to take appropriate actions in the event of any breaches of the law.

    Floki responds  

    In a live spaces recap on X (formerly Twitter), the Floki team responded to the developments involving the SFC. The crypto platform stressed that the SFC’s primary concern revolves around the remarkable performance of the staking programs.

    Unable to divulge details regarding their discussions with the SFC, Floki clarified that they partnered with a marketing agency to launch promotions for the Floki Staking Program and TokenFi Staking Program. The agency secured media exposure, and the Floki team was under the impression that they had received approval.

    The Floki team refrained from commenting on the continuation of the marketing campaign in Hong Kong for the time being. They have reassured investors of their commitment to navigating all appropriate channels to meet the requirements set by Hong Kong authorities.

    Furthermore, the SFC reiterated its commitment to enforcing regulatory standards and safeguarding investors from fraudulent schemes. 

    Hong Kong legislator supports spot Bitcoin ETF adoption

    In related news, Hong Kong lawmaker Johnny Ng has called on the government to promptly introduce spot Bitcoin (BTC) exchange-traded funds (ETFs).

    The decision comes on the heels of the recent approval of similar products in the U.S.

    Anticipated to debut by mid-2024, Hong Kong’s first spot crypto ETFs have been under review by the SFC and the Monetary Authority.

    The move is viewed as a significant stride towards aligning with global financial trends and solidifying Hong Kong’s standing in the crypto industry. The swift adoption of spot Bitcoin ETFs in Hong Kong could also have a profound impact on the region, as highlighted by industry insiders and experts.

    The introduction of ETFs is deemed pivotal in aligning regulatory and industry expectations on controls and compliance, paving the way for this reality in the Asian market, where Hong Kong aspires to be a testing ground for the broader region.


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    Ogwu Osaemezu Emmanuel

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