In crypto, the recently quiet meme coin compartment started showing signs of revitalization after Bitcoin (BTC) formed a double bottom at $75K twice over the span of the past 30 days. Whilst Bitcoin (BTC) whipped up 14.5% monthly gains, most altcoins also embarked on rebound rallies, while meme coins continued to trade sideways throughout April.
Shiba Inu-Styled Floki Token Bursts Out On Airdrop News
This week, the two top dog meme coins Shiba Inu (SHIB) & Dogecoin (DOGE) both slightly backtracked, dipping by 4.5% and 1% in a weekly timeframe, respectively. In contrast, some smaller counterparts like the Solana based Bonk coin (BONK) and Dogwifhat (WIF) also tacked on over 10% rebound rallies.
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However, the Viking dog-themed Floki token (FLOKI) arrives as the largest gainer in a 7-day time frame, fetching a 32% profit to tackle $0.00008862, a new monthly high. The upsurge was activated once Floki Inuโs (FLOKI) team announced a new collaboration with Rice Robotics to launch a new AI robot, farming RICE tokens for the FLOKI token community along the way for the upcoming airdrop.
Naturally, the airdrop news amplified Floki tokenโs (FLOKI) buying power among retail crypto investors, but the Shiba Inu dog-themed meme coinโs trading volume stayed relatively small, netting under $100 million a day. In comparison to the big dogs, thatโs less than a 10% fraction of the regular Dogecoin trading volume, usually well above $1 billion.
As for Shiba Inu (SHIB), the mainstream meme coin took a hit in trading volume over the past few months, encompassing around $200 million per day. However, this also implies that crypto traders are less keen to speculate on Shiba Inuโs (SHIB) price, as the long-term holder percentage steadily grows throughout the ups & downs of the global crypto market.
On The Flipside
- Neither of the three aforementioned meme coins reclaimed their previous major support areas, while Floki remains outside the TOP 100 by market capitalization.
- The highest-ranking meme coin Dogecoin is changing hands at $0.18, while number two Shiba Inu is trading well below the $0.000015 confluent resistance level.
Why This Matters
Community-driven engagement is crucial for any dog-themed crypto currency to stay relevant and live beyond its meme coin status.
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