The futures open interest for the dog-themed cryptocurrency Floki Inu (FLOKI) has reached a 30-day high, hitting $19 million, indicating a substantial increase since the beginning of May. This surge implies growing interest from investors in FLOKI Futures contracts.

Despite its recent price rally of nearly 20%, reaching $0.0002123, with a spike in daily trading volume to $1.06 billion on May 15, caution is advised due to persistent bearish signals.

Although momentum indicators like the RSI and MFI show increased demand, the negative CMF and fluctuating funding rates suggest potential volatility, urging investors to stay vigilant and analyze both bullish and bearish factors before making investment decisions.