With Floki in the Green, Here’s the Next Meme Coin You Should Watch

cryptonews.com:

The popular meme coin and soon-to-be trading bot inspired by Elon Musk’s pet Shiba Inu of the same name, Floki ($FLOKI) appears to be trading against the grain of the market leader today.

In the last 24 hours, Floki added 0.6% to its value to trade at $0.0001491.

This contrasts with Bitcoin ($BTC), the number cryptocurrency and the one that most of the market tends to follow. Bitcoin actually fell 0.5% and currently changes hands at $58,280.

However, when we analyze their seven-day performances we see their performances inverted. Floki lost 2.4% over the week while Bitcoin grew about 1%.

Floki’s performance is in line with the meme coin market leader, Dogecoin ($DOGE).

Dogecoin actually grew 0.4% overnight but fell about 2% over the week down to its current price of $0.1092.

Holders of two particular Shiba Inu meme coins are notably in profit since last week. Dogecoin’s number one rival, the Ethereum-based Shiba Inu coin ($SHIB), added 8.2% to trade at $0.00001657, while holders of Solana’s BONK ($BONK) coin saw their bags swell 15.7% to a new price of $0.00002587.

Floki’s price chart shows a token trading at about its current support level, which appears to be between $0.00012 and $0.00014.

Since early June, the token has shed 57% as it spiraled down from an all-time high of $0.0003449, posted on June 5.

Recapturing lost ground may prove difficult in the short term, as new resistance has appeared at $0.00018.

Meme coins often bring their holders price rises, but these are contingent on whether the rest of the market is doing well and are not indications of the tokens’ underlying values.

Now, doge-themed meme coins are having to provide better fundamentals to stay in the market. Recent reports suggest the Shiba Inu team are