The Floki price has declined by 2% in the past 24 hours, slipping to $0.0002274 as the crypto market as a whole gains by just over 1% today.
FLOKI has now fallen by 9% in a week and by 25% in the past fortnight, yet the meme token remains up by a very impressive 420% in the last 30 days.
This caps a year in which the coin has also gained by nearly 600% and passed a $2 billion market cap, and with the market returning to growth in the past couple of days, it could continue rising into the weekend.
Floki Price Prediction as FLOKI Reaches $2 Billion Market Cap – Time to Buy?
Despite Floki’s decline today, its chart gives the impression that it could rebound soon.
Most notably, its relative strength index (purple) has spent the past couple of days below 50, if not lower.
This means that traders have been overselling it recently, and that it should rise sooner or later.
Source: TradingView
It’s also significant that FLOKI’s 30-day average (orange) fell below its 200-day (blue) earlier this morning, a sign that the token could bottom soon and resume rising.
One thing that is concerning, however, is that FLOKI’s trading volume is still quite low, at $340 million today.
This represents an 85% drop in relation to volumes witnessed in early March, when the coin reached $0.000260 and upwards.
It’s therefore safe to say that demand remains a little low, with whales and larger traders neglecting FLOKI at the moment.
The price of $FLOKI increased by ~75% today!
We noticed that whales started unstaking $FLOKI and selling for profits!
6 wallets have unstaked 30B $FLOKI($7.14M) in the past 6 hours and are selling $FLOKI.
Address:https://t.co/llvmSsLbt7https://t.co/us2zSxajOH… pic.twitter.com/yno9dtvxya
— Lookonchain (@lookonchain) March 8, 2024
In fact, the most recent data on whale FLOKI transfers involved a number of wallets unstaking their tokens and selling.
This was earlier in the month, around the time of FLOKI’s rise towards $0.00030, and since then nothing much has changed.
Having said that, the wider crypto market looks to be regaining momentum, something which will likely help the Floki price recover and rally again.
Not only is the market recovering impetus, but a number of coming developments may help it reach new heights for the year.
This includes incoming Federal Reserve rate cuts, the potential approval of Ethereum ETFs, and next month’s Bitcoin halving.
At the same time, Floki Inu will be quietly improving its fundamentals and value as a meme token, with the coin’s roadmap outlining a number of significant events this year.
FLOKI ROADMAP: WHAT’S NEXT ON OUR AGENDA…
From the get-go, we’ve been VERY clear about our goal for Floki:
To be the most known and most used cryptocurrency in the world.
Our new roadmap outlines how we intend to achieve this:https://t.co/cBqJXwhziH pic.twitter.com/hBydq4D4lX
— FLOKI (@RealFlokiInu) March 22, 2024
For this reason, the Floki price could reach $0.00030 again in the next few weeks, before breaking its ATH in the summer.
Newer Meme Tokens for Bigger Rallies
If traders are worried that FLOKI may have already seen its biggest rallies, then they could do well to look at newer alternatives, particularly coins with a good chance of listing on new exchanges.
One new meme token that does have a good chance of gaining new listings is Sponge (SPONGE), an ERC-20 cryptocurrency that launched the second version of its coin nearly two months ago.
It has risen by over 390% since listing on Uniswap in early February, with the token likely to list on new trading platforms in the coming weeks.
Source: DEXTools/TradingView
Compared to most other new meme tokens this year, SPONGE has been able to hold onto its initial gains, as well as build upon them.
This is partly because its first version launched (successfully) last year and has already accumulated a strong following, with Sponge’s official Twitter account having some 36,000 followers.
Yet SPONGE V2 has also brought in a couple of important improvements, including a new staking model that offers a minimum yield of 40% APY.
In recent weeks, this yield has even risen to triple figures, with the rate depending on the number of stakes.
What’s also exciting about SPONGE V2 is that it’s close to launching its very own P2E racing game, for which it will be the native token.
Don’t forget, #SPONGERS! #SpongeV2 is bringing exciting utility through our upcoming #P2E game!
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! #MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
This game will enable players to compete against each other to rank the highest on a global leaderboard, with the highest-ranking players earning the highest rewards.
The launch of this game is likely to increase demand for SPONGE, and in combination with upcoming listings, its price could rally significantly.
Traders can buy it now Uniswap or via the official Sponge website, where traders can also see the coin’s roadmap.
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