The meme coin Floki experienced a significant decline in January, forming a death cross pattern and indicating potential further downside in February. The coin reached its lowest level since August 2021, down more than 53% from its highest level in November. This decline was consistent with other meme coins like Dogecoin, Shiba Inu, and Pepe. Despite being added to Coinbase and having important ecosystem news, Floki continued to drop. The upcoming Valhalla launch on the mainnet is anticipated to be a key catalyst for the coin. However, the coin's daily chart shows bearish patterns, including a double-top pattern and a death cross, suggesting more downside if the price falls below the key support level at $0.0001135.



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