FLOKI Price Fueled by Ethereum Anniversary Tie-In as Holder Concentration Raises Concerns

FLOKI's price has been gaining momentum after its official account tied itself to Ethereum's 11th birthday. The decentralized ecosystem token, built on Ethereum, is used for payments, gaming, and DeFi products. According to CoinGabbar analysts, the chart is still working through the effect of its March-May trend break.

The price is currently testing an EMA cluster that has capped every recovery attempt so far this cycle. The RSI momentum reading sits at 42.35, indicating a neutral market with room for a move either way.

A Gini score above 0.99 means a handful of wallets carry outsized weight over price action, independent of what the technical setup shows. FLOKI's holder concentration data adds a separate layer worth watching.