Floki Rally: FLOKI Price Up 8% as Meme Coins Bounce Back – Is This AI Coin Next to Pump?
Meme coin FLOKI is going against the grain today. Crypto’s fifth largest meme coin, inspired by Elon Musk’s pet Shiba Inu of the same name, has rallied 8.8% in the last 24 hours and currently trades at a price of $0.0001887.
This means long-term FLOKI HODLers have found their digital coffers raised by 28% over the last 30 days and a staggering 430% from this time last year.
Many of the largest meme coins by market capitalization are pumping today despite the downturns posted by the market leaders.
The world’s largest cryptocurrency, Bitcoin ($BTC), fell 2% overnight and currently trades at $61,767. Ethereum ($ETH), the token underpinning the most commercially important blockchain, fell 2.4% to trade at $2,910.
Standing in stark contrast to either of the biggest coins, Pepe Coin ($PEPE) ballooned 19% to $0.00001056. Original meme coin Dogecoin ($DOGE) posted a light appreciation of around 3.6% and currently trades for $0.1497.
Over on FLOKI’s trading chart, we can see a token that broadly rose in step with Bitcoin through early March to peak around the middle of the month.
Since then, the token has found strong support between $0.00015 and $0.0002 and appears stable today.
With a relative strength index (RSI) of 58 and falling, the token appears to be priced well, although the sell-off could pick up pace and end the rally.
Fun it may be on a good day, but FLOKI doesn’t offer holders much of value.
Its cultural cache seems a bit limited too. After all, it’s a meme coin about Elon Musk’s dog.
Before FLOKI, we already had Dogecoin and Shiba Inu, after it we got Bonk and DogWifHat, so investing in FLOKI is really just speculating on future price rises.
However, for those who believe in crypto’s longevity, a new generation of meme coins
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