21 April, 2024

FLOKI Reigns Supreme in the Metaverse Space, CMC Data Reveal

22 Jul, 2023

07 Mar, 2024

  • FLOKI emerged as the top metaverse cryptocurrency in 2023, capturing 39.58% of all views on CoinMarketCap.
  • FLOKI’s sideways-moving Bollinger Bands and an RSI in the overbought region hint at potential market volatility ahead.
  • The upcoming weeks would be crucial in determining FLOKI’s continued success.

The first half of 2023 has seen growing interest in the crypto-metaverse, with a noteworthy surge in one currency in particular: FLOKI. The burgeoning metaverse cryptocurrency has taken the lead in global popularity, per recent data from CoinMarketCap, the preeminent crypto data platform. 

As per the data, FLOKI emerged as the top contender in the first half of 2023, accounting for 39.58% of all metaverse views. FLOKI‘s current position on CoinMarketCap is 126, valued at $0.000024.

The popularity spike for FLOKI suggests a growing interest in its associated metaverse game, Valhalla. The game is presently playable on the Optimism Goerli testnet, presenting players with unique features such as upgradeable NFTs, on-chain gaming interactions, and an open world. Valhalla’s full version will launch on the mainnet later in the year.

FLOKI’s impressive rise has seemingly been unaffected by overall crypto market trends, indicating its market share continues to expand. The circulating supply of FLOKI coins is close to 9.5 trillion, with the total market cap at around $228 million.

However, despite the promising figures, the technical indicators warrant caution. The Bollinger Bands, a tool often used by traders to measure market volatility, are moving sideways, suggesting that the market is somewhat stagnant.

FLOKI/USD daily price chart, Source: Trading View

Moreover, the Relative Strength Index (RSI), another key technical indicator, is overbought. This often signals a potential market shift, implying that trading activity may change soon.

The next few weeks would be crucial for FLOKI, as traders would closely monitor these indicators. As the launch of Valhalla approaches, the crypto world would be keen to see whether FLOKI can maintain its ascendancy or if market forces will direct a new path.

Disclaimer: The price analysis published on CryptoTale is for informational purposes only. Readers should exercise their judgment and conduct independent research. CryptoTale is not liable for any damages or losses arising from using the price analysis.


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