Is It Too Late to Invest in Floki? Floki Price Leads as AI Meme Coin

Tim Hakki

Last updated:

May 16, 2024 12:33 EDT

| 2 min read

Over the last seven days, popular ERC-20 meme coin Floki ($FLOKI) outpaced crypto’s favorite doggy meme coins and rallied a blistering 23.7% to trade at $0.0002138.

Floki’s rally comes as a sea of green candles across most leading cryptocurrencies makes for an emerald market.

Leading cryptocurrency Bitcoin ($BTC) is the usual pacesetter, and in the last seven days, it appreciated by 8.4% to trade at $66,293 as of this writing.

The token underpinning DeFi’s busiest blockchain, Ethereum ($ETH), barely grew in price at all. It’s still trading at around $3,000 as it did this time last Thursday.

That means Floki outpaced both the market leaders and the three biggest canine meme coins this week. In comparison, Dogecoin ($DOGE) only grew 6.5%, Shiba Inu ($SHIB) added 11.7%, DogWifHat ($WIF) grew 4.5% and Bonk ($BONK) climbed 9%.

Floki is also one of the few leading cryptocurrencies that depreciated in the last 24 hours. It’s now down 2.9% from yesterday. The only other popular meme coin that fell overnight is Pepe Coin ($PEPE). The viral frog meme coin shed 5.7% overnight but led meme coin gains over the last seven days with a meaty rally of 29%.

Over on FLOKI’s trading chart we can see the token has come down from a mid-March peak to lows of almost $0.0001, although its support level has since been climbing higher.

Since coming down from $0.00022 in mid-April, the token has found stiff resistance at $0.0002, but today’s price represents a potential breakout.

Relative strength index (RSI) signals are promising. The token’s RSI is 53 and falling which indicates strong short-term stability.

WienerAI ($WAI) Makes Floki Look Dated, Raises $1.9 Million in Meme Coin ICO.

Floki is a meme coin named after Elon Musk’s dog. It’s also one of not two, not three, but five meme coins based on viral shiba inus, all of which are top ten meme coins.

Before FLOKI, there was Dogecoin and Shiba Inu, after it there was Bonk and DogWifHat, with little to differentiate each from the other except novelty, tech specs, and/or blockchains.

However, for those who believe in crypto’s longevity, a new generation of meme coins is cropping up which brings bundles of utility along with the laughs.

Leading this new generation of...

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