Floki (FLOKI/USD) is gaining traction as major meme coins Dogecoin (DOGE/USD), Shiba Inu (SHIB/USD) and Pepe (PEPE) rally.

Prominent trader Unipcs emphasized that meme coins are outperforming other sectors, proving they are here to stay despite skepticism.

Prominent trader, known as Unipcs on X (formerly Twitter), highlighted that meme coins are outperforming other sectors, rendering them likely to continue despite skepticism.

Also, the trader believes that meme coins have proven to be the best indicator of risk appetite in this market.

Trader Notes On Meme Coins

Despite the widespread disdain for meme coins—many wish for their demise and view them as useless—the reality is that meme coins are here to stay, highlighted the trader.

He highlighted that several individuals believe meme coins are performing poorly, but the truth is that meme coins are outperforming other sectors by a considerable margin.

Moreover, they are performing better than both small-cap and large-cap sectors, concluding that meme coins are likely to continue performing well.

He also added that people often discuss the heating up of the market or the best indicator of risk appetite. In his opinion, meme coins provide the best indication of risk appetite. They began performing well when the market showed signs of heating up, and they are continuing to outperform.

Floki Is Gaining Traction

In another post, the trader highlighted that although Floki is down 75% from its all-time high, it remains one of the most popular and mainstream multi-cycle meme coins.

Historically, it lags behind SHIB and DOGE when they move but then outperforms. It is also the only meme coin from the last cycle to hit a new all-time high this cycle ($3.5 billion market cap)—a milestone even DOGE and SHIB haven’t achieved.

Highlighting Floki's narrative, Unipcs pointed out that the ETF is set to launch on a major European stock exchange and flagship metaverse game is ready to go live soon.

Another trader noted that Floki's rally is just beginning. He predicts three major sell walls, and once those are broken, the real bull market will start.

$FLOKI's rise is starting.The first sell wall will be reached soon.And once it breaks through, there are two more sell walls. As these three sell walls are broken, the real bull market for $FLOKI will start.It's just starting line.

According to IntoTheBlock data, large transaction volume for Floki Inu has dropped by 31% in a single day, while transactions greater than $100,000 dropped from eight to four. 52% of Floki holders are currently in profit, 46% are making a loss.

Related Articles: