Floki Inu (FLOKI) Price Prediction 2022: Will FLOKI Double Its Value by May?

AMBCrypto's analysis revealed that Floki [FLOKI] was hovering at a spot that could bring in more hike than the recent price increase.

Cryptocurrency prices are highly volatile and can move in either direction quickly. Therefore, it is important to conduct thorough research before making any investment decisions.

According to AMBCrypto’s analysis, Floki [FLOKI] was hovering at a spot that could bring in more hike than the recent price increase. At press time, FLOKI changed hands at $0.00017, showcasing a 10.12% increase over the last 24 hours.

The reason for this prediction could be linked to the MVRV ratio. Standing for Market Value to Realized Value, MVRV shows the profitability of holders by utilizing the relationship between the market cap and realized cap.

It also shows if a token is undervalued or overvalued. At press time, FLOKI’s 30-day MVRV ratio was -36.34%. This means that the current price is significantly lower than the average value holders purchased the price within a 30-day window.

As such, if they decide to sell now, they would be realizing a loss. Therefore, it is likely that most holders would choose not to sell.

Instead, the price seems to offer an opportunity to scoop at lower prices. The historical performance of the memecoin proves this bias.

For example, when FLOKI’s MVRV ratio was -18.73% in the last week of February, the price jumped from $0.000036. By the first week of March, it was trading at $0.00015.

The increase at that time was over 300% in profits for market participants. In April, the ratio dropped to -41.79%. At that time, the price was $0.00013. Weeks later, the value jumped to $0.00024.

Considering the past performances of the token in a similar situation, a further upswing could be likely. If FLOKI mirrors the historical price action, the value could go on an 100% increase within the next month.

Should this be the case, FLOKI’s price might hit $0.00034. If the market does not undergo a notable correction within the period, the memecoin might surpass its all-time high.

To ascertain if FLOKI will be able to move toward this forecast, AMBCrypto analyzed the IOMAP. Standing for In/Out of Money Around Price, the IOMAP considers the cluster of addresses that purchased a cryptocurrency at a certain price.

Thus, market participants can spot resistance or support levels. At press time, AMBCrypto observed that 1,140 addresses bought 35.97 billion FLOKI at an average price of $0.00016.

At the other end, 760 addresses purchased 125.24 billion around $0.00017. The larger number of addresses at $0.00016 could act as support for the token, thereby, preventing the price from plunging.

Read Floki’s [FLOKI] Price Prediction 2024-2025

In addition, the potential effect of the current condition could be a price increase to $0.00019 for a start.

However, if buying pressure increases, the value of the memecoin could be higher. Should FLOKI mirror March’s performance, the price might reach $0.00034 as initially stated.

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