Dogecoin Dip Buying Rises as FLOKI Stumbles; Lunex Eyes Its Next Big Move

After the early December bull run that saw virtually all cryptocurrency prices reaching new highs, a market correction is currently happening. This has seen the Bitcoin price struggling to maintain support around $100K. But meme coins like Dogecoin (DOGE) are also affected. The latest Dogecoin news shows optimism remains among DOGE investors, though.

After a bull run in early December that saw nearly all cryptocurrency prices hitting new highs, a market correction is now underway. This has seen the Bitcoin price struggling to maintain support at around $100K. But meme coins like Dogecoin (DOGE) are also feeling the heat. However, the latest Dogecoin news shows that optimism remains among DOGE investors.

Meanwhile, Floki (FLOKI) has lost around 25% over the last month. This is why investors are locking in on Lunex (LNEX), a new decentralized finance (DeFi) token that has raised over $5.3 million during its presale. Let’s explore why experts are tipping Lunex as the best crypto to buy now.

Dogecoin investors remain bullish despite price dip

DOGE remains the biggest meme coin by market capitalization, and the coin has had a good year. However, after hitting a year-to-date high of around $0.48 in late November and reclaiming the price in early December, the DOGE price has slipped to trade at around $0.40 at the time of writing. According to the latest Dogecoin news, the drop in the DOGE price is mainly due to the broader downturn in crypto prices following a market correction.

Interestingly, recent developments have not deterred DOGE investors. The DOGE technical analysis shows that they have been buying the dip. Moving averages (MAs) suggest that Dogecoin investors share a “strong buy” sentiment and are unfazed by the recent price decline.

Floki loses steam after market correction

Floki is another meme coin that has faced some resistance following the recent market correction. Although the FLOKI price was up by about 27% during December, its accumulated gains have fizzled out in recent weeks. The FLOKI price surged to $0.00029 in late November, prompting some to claim that the meme coin was set to smash its 2021 all-time high of $0.00034.

However, the FLOKI price has now dropped to trade at around $0.00019 at the time of writing. It lost the momentum that saw it enter the month in the green zone, surging by about 28%.

Utility tokens are set for better gains than meme coins

While meme coins like DOGE and FLOKI have posted some impressive gains in the past, they are unlikely to sustain their bullish trends, given the ongoing market resistance, especially considering that they are meme coins whose value is largely propped up by social media hype. Their lack of real use cases also poses a problem, making them riskier investments than utility tokens that are backed by real-world projects.

One of these tokens is Lunex (LNEX), a new DeFi token that powers the Lunex Network. Having raised over $5.3 million during its ongoing presale, experts believe that Lunex has what it takes to challenge established meme coins like DOGE and FLOKI. Its multi-chain bridge and exchange will be a major driver, enabling seamless and low-cost cross-chain transactions across major blockchains like Bitcoin and Ethereum.

It also supports the trading of over 50,000 cryptocurrency pairs on its decentralized exchange (DEX). Furthermore, Lunex token holders can participate in its staking opportunity and earn up to 18% annual percentage yield (APY). These varied use cases make Lunex the best crypto to buy now. Interested investors have a limited time to lock in some Lunex tokens at $0.0046 before subsequent price increases as the presale progresses.

You can find more information about Lunex Network (LNEX) here:

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