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Floki, a coin inspired by the dog’s pet’s dog Elon Musk “Floki”, suddenly withdrew in January and formed a pattern of death, risking more deficiencies in February.
Floki (Floki) fell to the lowest level of 0.0001135 in January, which is the lowest level since August last year. In November, it reduced more than 53% with its highest level.
Floki’s fall was in line with the performance of other meme coins such as Dogecoin (Doge), Shiba Inu (Shib) and Pepe (Pepe).
The collision also happened in the moon when Floki burned more than 5.8 trillion coins. In the last three months, 2.46 billion tokens have been burned worth $ 330,000, and 100.9 million have been burned in the last twelve months.
Since its founding in 2021, Floki has burned 5.87 trillion coins, leaving them in traffic at 4.1 trillion. These burns happen when the tokens are moved to an address that cannot be accessed. Their goal is to reduce the number of coins in circulation and increase their value.
Floki also fell despite some important news about the ecosystem. For example, token was added to Coinbase, making it available to the residents in New York. Coinbase also used meme coins like Gigachad and Turbo residents of New York.
In addition, as shown below, two Floka Kita continued to buy a recess as the coin fell. The second largest Floki holder bought an additional 214 million tokens, while another was bought by 253 million.
The next key catalyst prices for Floka will be the upcoming Valhalla launch on Mainnet.
Valhalla is a playing game with over $ 43 million in a treasure trove that will power its playing economy. Its goal is to increase the use of Floki because it goes from meme coin to a useful coin.
Floki price analysis
The daily chart shows that Floki Price made up a double top pattern compared to 0.0002840 in November and December. This is a very bear pattern made up of two tops and a neckline, which is $ 0.0002050.
Floki’s second bear pattern, the cross of death, occurred when the 200-day and 50-day moving average exceeded each other. He also formed a number of lower lowest and lower high maximums.
Therefore, more disadvantages will be confirmed if the price of Floki collapses below the key support at $ 0.000,1135. This is a noticeable price because it was the lowest point since July last year.
