Floki Inu price is about to witness a drawdown in response to the recent rally.
Floki Inu price is looking at a dip into the accumulation zone between $0.02750 and $0.02380. The MVRV ratio suggests that the altcoin is in the danger zone, where, historically, the meme coin has corrected. A dip into the accumulation zone could also provide the boost needed for FLOKI to set up a 70% rally. However, the result of this drawdown could bode well for the bulls.
Provided investors continue booking profits and Floki Inu price does note a decline as significant in the first place. However, if the RSI dips further below or FLOKI fails to bounce back from the accumulation zone, a gradual decline can be expected, which would invalidate the bullish thesis if the meme coin observes a drawdown to $0.02000.
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