Floki Price Surges 24% as Catslap (SLAP) Emerges as a New Meme Coin Leader

The Floki price has surged 24% in the last 24 hours to trade at $0.00009638 as of 1:00 a.m. EST on a 6% drop in trading volume to $369 million.

The Floki price showed signs of recovery on Wednesday, surging 24% to trade at $0.00009638 as of 1:00 a.m. EST. However, the trading volume dropped 6% to $369 million.

Floki Price Chart - January 31, 2023

The FLOKI price faced selling pressure after reaching an intraday high of $0.00010589, slipping to a low of $0.00009557, sparking concerns about a potential breakdown below key technical levels.

The latest decline comes as FLOKI continues a downtrend after its parabolic rally in November, where prices surged before reversing into a bearish channel. Multiple sell signals have appeared on the meme coin's chart.

However, FLOKI is now testing a major support zone between $0.00009500 and $0.00010000, a level that previously attracted strong buying interest.

FLOKIUSD Analysis - Tradingview

Floki Price Nears Oversold Levels

According to technical indicators, FLOKI may be approaching oversold conditions, with the Relative Strength Index (RSI) at 30.74, just above the oversold threshold of 30. This could indicate a potential short-term rebound, especially if buyers step in at the current support level.

A successful bounce could see the Floki price retest resistance at $0.00011815, with further upside potential toward $0.00015000 if bullish momentum strengthens.

On the flip side, if FLOKI fails to hold above $0.00009500, it could trigger a deeper decline, with the next major support near $0.00008000.

Given the sustained downtrend, traders remain cautious, watching for signs of a trend reversal or further selling pressure.

The next few trading sessions will be crucial, as FLOKI's reaction at the support zone will determine whether a relief rally or a new leg down is next.

Investors are advised to closely monitor buying volume and price action before making their next move.

Traders Turn to Catslap (SLAP)

As the Floki price struggles to recover, more traders are turning to the new meme coin, Catslap (SLAP), the token behind a viral web game where players earn crypto by slapping cultural icons.

The Catslap team recently burned $1 million worth of tokens, effectively reducing the total supply and potentially driving positive price momentum for the popular Slap-to-Earn cryptocurrency.

To date, a total of 1.2 billion SLAP tokens, valued at over $1.5 million, have been burned, reinforcing the project's deflationary model.

Additionally, the Slapdrop contest successfully distributed a $100,000 prize pool, further fueling engagement within the community.

It's done. We just burnt $1,000,000 of $SLAP

https://t.co/grFgQzV4ej pic.twitter.com/iMG1HkF0Ri

— Catslap (@CatSlapToken) January 31, 2025

The successful token burn also marks the end of the Slapdrop contest, with investors staking over 500 million SLAP tokens. While the staked principal will remain secure, any unclaimed staking rewards are set to be burned on Feb. 14, adding to the token's deflationary mechanics.

MEGABURN Could Cause SLAP’s Price To Skyrocket

Following an impressive 969% surge from its presale price, SLAP is rapidly gaining traction, fueled by growing investor interest and potential pro-crypto policies in the US.

As it gains momentum, Catslap is positioning itself as a leader in the meme coin sector, with the potential to outpace rivals like MEOW and MOG.

With the upcoming “MEGABURN” event scheduled in the next 9 days, investors are eagerly anticipating a huge price surge. Even crypto influencer Jacob Crypto Bury, who boasts over 45K subscribers on YouTube, has predicted that SLAP could become the next 100X meme coin to dominate the market.

Moreover, Catslap’s partnership with Best Wallet (BEST), one of the fastest-growing and most innovative crypto wallets, also gives it exposure to over 105,000 users.

The current price of SLAP stands at $0.00117593, and it can be purchased directly on the project’s website using ETH, USDT, or a bank card. Alternatively, investors can also purchase the meme coin through the