Dog-themed memecoin <a href="https://www.cryptoknowmics.com/news/bitmex-delists-floki-inu-trading-pair/" target="_blank" rel="noopener">Floki Inu</a> (FLOKI) has seen its Futures open interest climb to a 30-day high. Data from Coinglass reveals that open interest reached $19 million, marking a 111% increase since the start of May. This surge in open interest indicates a growing number of market participants entering new positions in FLOKI Futures contracts.
<h2>Growing Demand and Price Rally</h2>
At the time of writing, FLOKI is valued at $0.0002123, having rallied nearly 20% in the past week. This surge has made it one of the market's top gainers, according to <a href="https://coinmarketcap.com/currencies/floki-inu/" target="_blank" rel="nofollow noopener">CoinMarketCap</a>. Alongside the price hike, FLOKI's daily trading volume has spiked, reaching $1.06 billion on May 15, the highest since March 28, according to Santiment.

Key momentum indicators reflect this increased demand. FLOKI's Relative Strength Index (RSI) stands at 62.68, while its Money Flow Index (MFI) is at 65.37, both above their respective neutral lines.
<h2>Bearish Signals Persist</h2>
Despite the recent rally, bearish signals indicate caution. FLOKI's Chaikin Money Flow (CMF) remains negative at -0.11, suggesting a divergence between price and money flow. This negative CMF indicates weakening buying pressure, implying that the price rally may be driven by short-term speculation rather than strong fundamentals or long-term investor interest.

Additionally, FLOKI's daily funding rate across crypto exchanges has fluctuated between positive and negative values since early May. This fluctuation suggests market uncertainty regarding FLOKI's future price direction.
<h2>Market Outlook</h2>
While the increased open interest and recent price rally indicate heightened activity and demand for FLOKI, the negative CMF and fluctuating funding rates point to potential volatility. Investors should remain cautious, considering both bullish momentum indicators and underlying bearish signals.

As the market remains undecided, close monitoring of FLOKI's price movements and market indicators will be crucial for making informed investment decisions.
<h2>Conclusion</h2>
FLOKI Inu's Futures open interest has surged, reflecting increased market participation and demand. However, mixed signals suggest potential volatility, urging investors to approach with caution.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

FLOKI Inu Futures Open Interest Soars Amid Market Uncertainty

FLOKI Inu's Futures open interest reaches a 30-day high, indicating increased market activity. However, mixed signals suggest potential price volatility ahead.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

FLOKI Inu Futures Open Interest Soars Amid Market Uncertainty

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