Market Dynamics: Despite the overall bullish sentiment in the market, FLOKI has experienced a significant decline of 12%, raising concerns among investors.
Volatility: The volatile nature of cryptocurrencies, including FLOKI, often leads to sudden price fluctuations even during bullish trends.
Profit-Taking: Some investors may be capitalizing on recent gains by selling their FLOKI holdings, contributing to the downward pressure on its price.
Technical Factors: Technical indicators or chart patterns could be signaling a potential correction or sell-off in FLOKI's price.
Market Sentiment: Negative sentiment surrounding FLOKI, whether due to regulatory concerns, project developments, or other factors, could be influencing investor behavior.
Lack of Fundamental Support: If there are no significant developments or updates from the FLOKI project team, it may result in a lack of fundamental support for its price.
External Factors: External events, such as broader market trends, regulatory announcements, or geopolitical tensions, could also impact FLOKI's price negatively