FLOKI and dog-themed cryptocurrencies have been a hot topic lately. This month, BONK and Dogwifat (WIF) hit new all-time highs (ATH), with the Viking dog-based token rising to levels not seen since the last bull market.
During this rally, meme coins skyrocketed along with other cryptocurrencies. However, over the past 24 hours, the market has gone from soaring to crashing as the prices of most cryptocurrencies have increased following Bitcoin’s recent sell-off.
Is FLOKI ready to continue expanding?
Last week, FLOKI, the fifth-largest meme coin by market capitalization, surged more than 60% after announcing its listing on two major crypto exchanges in Asia and the Middle East. This news increased the token price to $0.0002043.
Crypto analyst Byzantine General shared his thoughts on the token’s recent performance on X (formerly Twitter). According to the post, FLOKI was one of the few tokens that “held up well.” Based on that, the Byzantine General observed that prices would remain firm ahead of the next expansion.
One of the coins that performed well today was $Floki. It looks like it’s just being integrated before another expansion.And recently, beta versions have basically become more expensive. $Doge. pic.twitter.com/9MsrfInjvA
— Byzantine General (@ByzGeneral) March 14, 2024
FLOKI has shown an upward trajectory this month, increasing 337% since March 1st. The chart within the post highlights the past four days and shows the Solana-based meme coin holding value in his $0.00026 to $0.0003 price range.
A broader look at the token price shows that it hovered between $0.000028 and $0.000039 for the first two months of 2024, before breaking through the $0.000040 resistance level at the end of February. In the past 30 days, FLOKI recorded an impressive growth of 649.4% on his.
Similarly, renowned trader and market analyst MacroCRG shared on X that “$FLOKI is holding up like MF Chad” amid the market decline. According to the trader, the token will remain one of the leaders “as long as the memecoin supercycle bid continues.”
Is the market itself shit?
it’s okay, $Floki Holds up like MF Chad
A new and refreshed roadmap will be published soon, with many product launches planned for later this year…
As long as the meme coin supercycle bid continues… IMO @RealFlokiInu He will continue to be one of the leaders pic.twitter.com/2gsIE04Dkv
— CRG (@MacroCRG) March 15, 2024
The analyst highlighted the newly revamped roadmap as part of the project’s “strengths”. Additionally, he noted that the web3 project has a product launch planned for later this year.
FLOKI price action
The mainnet launch of the FLOKI-powered Valhalla game is highly anticipated by “Floki Viokings”. Without a doubt, the community, like many others, has shown tremendous support and confidence in the Web3 project. expect It will immediately jump to the new ATH.
As seen in the chart below, the token price has closely tracked the rise and fall of BTC over the past seven days. It recorded a 13.5% decline in the past 24 hours.
BTC and FLOKI’s performance in the 7-day chart. Source: CoinGecko.com
Coupled with the price decline, daily trading volume fell 21.3% to $837.2 million. Moreover, WIF recently reversed that and came in 4th place as the largest meme coin by market capitalization. According to this indicator, FLOKI’s $2.47 billion placed it in 52nd place in the global cryptocurrency market ranking after falling 6.6% on the previous day.
At the time of writing, FLOKI is trading at $0.000248. Despite the drop in price, the token still shows an impressive growth of 28.3% in 7 days.
FLOKI is trading at $0.000248 in the 1-day chart. Source: FLOKIUSDT on TradingView.com
Featured image from Unsplash.com, chart from Tradingview.com
