Following its appearance on Chinese television during the World Table Tennis Championships, the price of Floki, a well-known meme token, significantly increased over the weekend. Viewers’ interest in a billboard showing the token’s branding, “powered by Floki.com,” increased the token’s value. This trend has raised questions about Floki’s capacity to compete with Pepe and other meme currencies.
The triumph of Sun Yingsha against Olympic champion Chen Meng on May 28th contributed to the fervor around Floki’s recent rise. The introduction of the token on a well-known sports channel in China, which coincided with the impending legalization of cryptocurrencies in Hong Kong, may potentially expose it to over 100 million people, according to the official Twitter account of Floki Inu, now renamed as Floki.
In the last 24 hours, Floki’s trade volume has increased by around 400%, according to CoinMarketCap. After being listed on Binance on May 5th, the token managed to set itself apart from Shiba Inu, another meme currency, and climb into the top 100 cryptocurrencies by market valuation. Floki is now ranked 101st despite a retracement and has a market valuation of more than $330 million. It is now the fourth most popular meme currency, after DOGE, SHIB, and PEPE.
Trader @Phoenix_Ash3s was upbeat about the future of Floki and said that the momentum started in China may continue. His allusion to the “Xi Jinping pump” refers to a historic rise in Bitcoin’s price that knowledgeable traders may remember in 2019.
The price of Floki has increased by approximately 25% since May 24th, recovering from the post-Binance listing sell-off before suffering a little downturn.
While Floki has had a relatively little decrease, PEPE, another meme currency introduced on Binance the same day, has experienced a more dramatic collapse, correcting 80% from its all-time high. Crypto The power of these “legendary” meme currencies was emphasized by Tony, a well-known member in the crypto world, who stated that both Floki and PEPE may recover from their present support levels.
If Floki’s price increases by 60% from where it is now, it might overtake Pepe in terms of market value and retake third place among meme currencies. To outperform Shiba Inu, Pepe would need to nearly ten-fold, and to outperform Dogecoin, twenty-fold.
Along with Floki and Pepe, Wall Street Memes (WSM) is a meme currency that is gaining popularity. WSM, which will be launched on exchanges in the third quarter of 2023, has gained a lot of attention on social media and in a number of publications covering the cryptocurrency space. Since its start on May 26th, the $WSM token presale has already raised over $800,000. WSM aspires to imitate the large following of the Floki army with a devoted community of one million followers across Twitter and Instagram.
Visit wallstmemes.com to learn more about the next Floki Inu competitor. Additionally, we have examined 21 brand-new cryptocurrencies, including coins with small market caps and projects that are still in the pre-ICO stage but have huge upside potential.
AiDoge (AI), which just sold out its presale inside one month and is getting ready to announce its initial exchange offering (IEO) date, is another significant meme currency on our list.
