Meme Coin Wars – Floki Inu Vs. Dogecoin And Shiba Inu – Who Wins?
08 Outubro 2022 - 9:05AM
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There’s an ongoing meme coin war and it pits a lesser known coin
against two other well-entrenched cryptos in the space today. FLOKI
is a crypto based on Elon Musk’s dog that has the same name Floki
Inu’s market cap is less than $1 billion The crypto has been on a
decline after it bottomed in June 2022 Floki Inu (FLOKI), a meme
crypto that was inspired by the dog of self-proclaimed “Dogefather”
Elon Musk, is aiming to surpass Dogeoin (DOGE) and Shiba Inu
(SHIB). That could prove to be easier said than done as it is
losing to its fellow dog-themed cryptoccurencies in several
battlefronts. Total market capitalization is one of these aspects
and Floki Inu’s is worlds apart compared to DOGE and SHIB. Related
Reading: BNB Holders Should Brace For This Trend Reversal – Happy
Days Over? Of the three, Dogecoin has the highest market cap,
valued at $8.4 billion. Its spin-off token is somehow keeping up as
Shiba Inu’s total capitalization stands at a little over $6.5
billion. FLOKI finds itself in a distance that is very far from the
two, as its market cap is only $70.2 million. In terms of current
trading price, DOGE leads the pack. At press time, according to
CoinGecko, it is trading at $0.062. SHIB is changing hands at
$0.00001109 while FLOKI is at $0.00000754. Along these lines, Floki
Inu needs to grow its market cap 100x just to surpass Shiba Inu.
But even after that, Dogecoin will still prove to be a bigger
challenge for the crypto. FLOKI Price Action At A Glance Even with
Floki Inu’s minimal value, it ended up being one of the casualties
of the recent bearish streak that plagued the crypto space. Its
price action chart shows the coin bottomed in June 2022 when it
reached $0.0000048433 before making an impressive bullish rally,
increasing its value by 270% to trade at $0.0000178931. Source:
TradingView.com However, FLOKI wasn’t able to sustain that run and
gain, as it tipped below the crucial $0.0000135356 mark. Since
then, it continued to decline and hasn’t been able to make any kind
of recovery. The altcoin is in a precarious position as falling
from its support level of $0.0000075326 will mean downward price
trend that will send it to another bearish rally. Related Reading:
Shiba Inu: How This Newly Found Support Will Boost SHIB Price This
Week Floki Inu: Origins And Immediate Goals Shortly after Elon Musk
announced he was naming his dog Floki, an unidentified team worked
on the digital currency sharing the same name and eventually
launched it. The Ethereum Blockchain-based Floki Inu was abandoned
by its original developers after realizing there was an inflation
bug in its initial token contract. The Floki community did not give
up on the asset and formed a team that revived the crypto which
they claim is unique compared to other meme coins as it is capable
of combining memes and utility. True enough, the Floki Inu token is
actually used to run the metaverse game known as Valhalla. As for
its immediate goals, FLOKI’s marketing chief said over the next
year, they’ll have more utility and holders than SHIB. Meanwhile,
it will be interesting to see whether a new meme coin emerges to go
head-to-head with Dogecoin and Shiba Inu in the coming bull
market. Will FLOKI muster enough firepower to beat DOGE and SHIB?
SHIB total market cap at $5.99 billion | Featured image from
Watcher Guru, Chart: TradingView.com
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