Floki Becomes the Best Performer – Should You Buy Now or Is It Too Late?
The top-ten meme coin and soon-to-be trading bot inspired by Elon Musk’s pet Shiba Inu of the same name, Floki ($FLOKI), is the best performing large-cap doge-themed coin of the last seven days.
In the last 24 hours, $FLOKI sank 3.8%% to trade at $0.0001235.
These intraday losses are heavier than those of its peers: Dogecoin ($DOGE), which shed 1.1%, Shiba Inu ($SHIB) dropped 0.7%, DogWifHat ($WIF) dropped 3% and Bonk ($BONK) lost 3.4%. Pepe ($PEPE), the biggest non-doge meme coin, lost 3.5%.
However, Floki’s price remains virtually unchanged in the last seven days. The same can’t be said of the above coins, which all dropped by just over 6% this week except $DOGE and $SHIB, which dropped 2% and 1% respectively.
That means in terms of seven-day metrics, Floki is a better performing cryptocurrency than Bitcoin ($BTC) right now.
The number one digital asset, which often sets the pace for the rest of the market trends, shed 2.8% over the week and currently change hands at $59,441.
$FLOKI’s price chart shows token trading in a narrow margin between its current resistance level of $0.0001 and its support of $0.0002, as shown by the colored lines below.
Since early June, the token has shed 64%, spiraling down from an all-time high of $0.0003449, posted on June 5.
Since the market crash on August 5th, Floki has had difficulty finding the next leg above $0.000125.
A relative strength index (RSI) of 49 and falling indicates Floki will continue its robust performance into the weekend, however, those hoping the price will go back up may have to wait longer.
The likelihood of more conservative fiscal policies by The Fed, coupled with a war and election-heavy news cycle, means that established cryptocurrencies across the board will have a
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