Floki surges 23% after Bitcoin hits over $70k – what’s next?

• The price of FLOKI has increased by 23% in the last 24 hours.
• This surge comes after bitcoin rose above $70,000.

The value of the memecoin Floki [FLOKI] After Bitcoin has seen double-digit gains in the last 24 hours [BTC] Crossed the price level of $70,000.

At the time of writing, the memecoin is valued at $0.00033, and its price has increased by 23% over the last 24 hours.

According to Coinmarketcap, Floki It is the only asset among the top five meme assets by market capitalization to have achieved double-digit price growth during the review period.

Floki enjoys the high social activity and attention of the whales

As Floki’s trading activity has surged in the past 24 hours, its trading volume has also increased. Trading volume during the same period totaled $1.2 billion, reaching its highest level since May 29. Of Sentiment data.

FLOKI has also been a major topic of discussion on social media platforms. This was highlighted by its rise in social dominance, according to sentiment data.

This metric tracks the ratio of discussion about a specific asset compared to the total discussion about the top 100 assets based on market capitalization.

At 0.98% at press time, FLOKI’s social dominance showed that discussions about the memecoin accounted for roughly 1% of conversations about the top 100 cryptocurrencies.

This revealed some level of interest in FLOKI compared to others.

Source: Santiment

This interest was reflected in an increase in FLOKI’s whale activity during the period under review.

According to Santiment, the total number of Floki transactions worth more than $100,000 has risen to 86 in the last 24 hours. This represents a 115% increase from the 40 transactions recorded on June 4.

Source: Santiment

Poised for more growth

An assessment of some of FLOKI’s key technical indicators by AMBcrypto indicated the possibility of a continued increase in the value of the meme coin in the near term.

For example, its Relative Strength Index (RSI) moved upwards and returned a value of 71.94 at the time of writing. This suggests that market participants have bought more FLOKI than they have sold.

Realistic or not, here is the market cap of FLOKI in terms of DOGE

Floki’s Chaikin Money Flow (CMF) stood above the zero line at 0.06, confirming the rise in demand for the meme coin.

Source: BNB/USDT on TradingView

This indicator tracks the speed of money flow in and out of a token’s market. A CMF value above zero indicates market strength, as it signals increased liquidity flow into the market.