- Market interest grows: FLOKI’s Open Interest (OI) surged 11.56% to $15.51 million, while trading volume jumped 61.18%, reflecting rising trader enthusiasm.
- Transactions favor mid-range trades: Smaller trades grew by 60%, and mid-level trades ($100k-$1 million) rose 150%, though large transactions above $1 million showed no notable activity.
- Network growth slows: Only 67 new addresses were added recently, raising concerns about long-term sustainability, despite a potential breakout signal from FLOKI’s falling wedge pattern on the charts.
Open Interest (OI) in FLOKI derivatives has climbed 11.56%, reaching $15.51 million, while trading volume skyrocketed 61.18% to $40.90 million. These numbers hint at rising enthusiasm among traders, indicating that FLOKIhas caught the market’s attention. However, whether the token can sustain this momentum remains uncertain as resistance levels loom.
Transactions Show Growth in Mid-Range Trades
FLOKI’s transaction data highlights an increase across several trade sizes. Smaller trades in the $0-$1 range grew by 60%, while mid-level transactions in the $100k-$1 million range soared by 150%—suggesting rising interest from institutional investors and high-net-worth individuals.
However, large transactions over $1 million have seen no significant growth, indicating that bigger market players may still be on the sidelines.
Declining Network Growth Raises Concerns
Despite growing trading activity, FLOKI’s network growth is showing signs of weakness. Only 67 new addresses were added recently, reflecting a slowdown in user expansion. This decline raises concerns about the long-term sustainability of the token’s growth, especially if new participants don’t enter the ecosystem soon.
source:intotheblock
Chart Signals and Price Action
FLOKI is currently consolidating within a falling wedge pattern, which could indicate a potential breakout. At the time of writing, FLOKI is priced at $0.00009357, down 0.80% in the past 24 hours. Traders are likely watching closely for a breakout above resistance in the coming days, which could lead to further price gains.
Liquidations Hint at Cautious Optimism
Recent liquidation data shows that long positions are being liquidated more frequently than shorts. Long liquidations stand at $1.81K, compared to $1.29K for shorts. This suggests traders are holding long positions in anticipation of a price rebound, though continued price weakness could increase risks for those traders.
Outlook: Resistance Ahead?
While FLOKI‘s derivatives market shows positive growth with rising volume and larger trades, challenges remain. Declining network growth and the pattern of long liquidations suggest that maintaining momentum might prove difficult. The token’s future may hinge on breaking key resistance levels within the falling wedge structure—only then could a sustained rally materialize.
