New Dogecoin Competitor Emerges as Floki Price Blasts Up – Is It Too Late to Buy?
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 enjoying the strongest price rally of any leading doge-themed coin today.
In the last 24 hours, $FLOKI added 12% to its price to trade at $0.0001622. These gains represent the bulk of its explosive performance this week, as Floki added 12.1% in the last seven days.
Still, it’s a better performing cryptocurrency than Bitcoin ($BTC) right now. The number one digital asset, which often sets the pace for the rest of the market trends, rose a more muted 5.5% overnight and 9.7% over the week to and currently change hands at $62,864.
$FLOKI’s price performance is also currently outperforming its sector leader, Dogecoin ($DOGE).
Dogecoin closely tracked Bitcoin, growing 5.1% overnight and 7.8% over the week to its current price of $0.1176.
But holders of all major Shiba Inu meme coins are profiting right now. Dogecoin’s number one rival, the Ethereum-based Shiba Inu coin ($SHIB), added 8.6% to trade at $0.00001799, while holders of Solana’s DogWifHat coin saw their bags swell 7.9% overnight to $1.82. Bonk ($BONK), another Solana Shiba Inu coin, grew 5.4% overnight to $0.00002452.
$FLOKI’s price chart shows token trading in a narrow margin between its current resistance level of $0.00018 and its support, which appears to be between $0.00012 and $0.00014, as shown by the colored lines.
Since early June, the token has shed 53% as it spiraled down from an all-time high of $0.0003449, posted on June 5.
With a relative strength index (RSI) of 76 and rising, $FLOKI is above the “overbought” threshold of RSI 70, which means its price is a little overvalued right now and some prompt profit-taking is likely to bring the
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