WIF Up 13%, FLOKI Up 8% and WIF Up 13%: Are Memecoins Coming Back?
Journalist.
- WIF, Floki and Floki see a huge price increase after several corrections.
- Despite price increases, FLOKI and WIF have seen a decline in popularity.
The memecoin sector has suffered massively in recent days, with many popular memecoins seeing a drop of more than 20 percent. However, at press time, it seemed like things were slowly improving and buyers were entering the market.
Both Dogwifhats [WIF] [and Floki Inu] [FLOKI] have seen a price increase in the last 24 hours. WIF grew by 12.92% during this period. Who let the dog out of the closet?
Although WIF’s price increase was more pronounced than other stocks, it was not enough to reverse the bearish trend that WIF had created with its previous price movement.
During this time, WIF’s OBV (On-Balance Volume) also rose sharply. The increase in OBV indicates a bullish market and increased buying pressure.
For WIF, the CMF (Chaikin Money Flow) did not increase as much. It remained at 0.02. A negative CMF could indicate a weakening of buying pressure or accumulation despite the price increasing. This divergence could indicate a lack of confidence in the price trend.
Trading View
FLOKI rose 7.97% and was trading at $0.000154 at the time of writing. FLOKI was in the same boat as WIF and could not break the bearish trend despite the increase.
How did traders react?
These price increases resulted in $1.37 million worth of short positions against WIF being liquidated within the last 24 hours. Due to the lack of open interest, FLOKI liquidation was less than $112,000 and was worth only $112,000
Coinglass
Social media volume surrounding FLOKI has been declining in recent days. Sentiment towards FLOKI has also decreased.
Read dogwifhat [WIF] price prediction 2024-25.
Data showed that FLOKI was not discussed as much on social media platforms and the majority of these discussions were negative.
Santiment.
WIF also saw a decline in social volume and sentiment. WIF’s social volume did not fall to the level of FLOKI, suggesting that it has retained some level of popularity.
Santiment
