The Floki price has dived by 7.5% today, sinking to $0.0002272 as the wider crypto market slips by 2% in the past 24 hours.
Today’s loss means that FLOKI is also down by 10% in the past week, although it’s a sign of how strong the coin has been that it holds onto a 23% gain in a fortnight and a whopping 600%.
Such performance suggests that the meme coin remains in the middle of a growth phase, ready to pick up from where it left off once the current correction has ended.
Floki Price Prediction as FLOKI Drops 7.5% – What’s Going On?
FLOKI’s chart is consistent with pretty much every other major token in the market today, with its indicators continuing to show a loss of momentum.
Its RSI (purple) has declined from nearly 70 yesterday to 50 as of writing, with its direction pointing to further selling pressure.
Source: TradingView
Likewise, its 30-day moving average (yellow) has flatlined after rising a little this morning, with FLOKI’s price bouncing down from its resistance level (red).
If there’s one thing that’s encouraging it’s that the meme token’s trading volume remains elevated at around $750 million, up from a very lowly $30 million less than a month ago.
This shows how far FLOKI has come in the past couple of weeks, and with liquidity staying high it could easily rebound in the very near future.
The price of $FLOKI increased by ~75% today!
We noticed that whales started unstaking $FLOKI and selling for profits!
6 wallets have unstaked 30B $FLOKI($7.14M) in the past 6 hours and are selling $FLOKI.
Address:https://t.co/llvmSsLbt7https://t.co/us2zSxajOH… pic.twitter.com/yno9dtvxya
— Lookonchain (@lookonchain) March 8, 2024
At the moment, it seems that many whales have been selling, although the start of this month did see some larger withdrawals from exchanges.
In other words, FLOKI is still a popular token among traders, and should push back up quickly as the market regains some impetus.
This could happen sooner than some bears may think, with the market preparing for the next Bitcoin halving, while also looking forward to the possibility of Ethereum ETF approvals.
Such factors could help precipitate a bull market in the next few months, with FLOKI benefitting more than other alts due to its status as a volatile meme token.
In terms of fundamentals, there’s also the upcoming Floki 2024 roadmap release, which is actually happening today.
Im excited about #Floki ‘s new roadmap release pic.twitter.com/5PARfCADw3
— Mr. Rye (@mr_rye_eriksen) March 22, 2024
This release could help prompt another little rally for FLOKI, although it’s possible that its spike earlier this morning is the only response will see to the roadmap today.
Regardless, the Floki price should reach $0.00030 by the end of spring.
Alternative Meme Tokens for Big tallies
FLOKI will continue to rise and fall throughout this year, and while it continues to show potential, it may not be the best meme token in 2024 for huge gains.
Such gains may come from newer tokens that could rise as they list on exchanges, with new ERC-20 token Dogecoin20 (DOGE20) being one of the most promising new meme coins around.
Promising to deliver a bullish update on the Dogecoin formula, its presale has already raised more than $5 million.
Go on #DOGE20!
2 Milestones in 1 Day!
Reaching over $5M raised now!
We are on a roll!
Massive shoutout to the best Community ever!
$6 million tomorrow? – Definitely! pic.twitter.com/GuMT1lidEO
— Dogecoin20 (@DOGE_COIN20) March 21, 2024
Given that the sale has been running for just over week, this figure is impressive, with investors attracted by DOGE20’s fundamentals.
It aims to offer a stronger version of Dogecoin’s ‘Do Only Good Everyday’ ethos, with the token set to provide regular support to charitable causes and community projects.
In addition, its use of the proof-of-stake Ethereum blockchain also makes it much more environmentally friendly than the original Dogecoin, which remains a more energy-intensive proof-of-work blockchain.
It also boasts superior tokenomics, featuring a hard cap of 140 billion tokens, in contrast to the infinitely inflationary supplies of many established meme coins.
This capped supply seems all the more bullish in light of DOGE20’s staking system, which will provide higher rewards to holders who stake earlier and for longer.
All of these features arguably make Dogecoin20 more promising as an investment vehicle than many of its rivals, with investors able to join its sale at the official Dogecoin20 website.
They can buy DOGE20 at $0.000206 per token, with the price rising by $0.000002 with each successive stage of the sale.
Once the sale ends, DOGE20 will list on Uniswap and then on other trading platforms, where it could rally big.
Buy Dogecoin20 Now
The post Floki Price Prediction as FLOKI Drops 7.5% – What’s Going On? appeared first on Cryptonews.
