The price of the ERC-20 meme coin FLOKI has decreased by 12% in the last seven days, currently trading at $0.0002064. This decline is part of a broader market pullback affecting most top cryptocurrencies. Other meme coins like SHIB, PEPE, and BONK have also experienced depreciation recently. In contrast, Solana-based meme coins, such as DogWifHat (WIF), saw an increase in price, with WIF rising by 20% in the same period. Dogecoin (DOGE), the largest meme coin by market capitalization, only experienced a 5% drop to trade at $0.18. Bitcoin and Ethereum, the market leaders, also posted notable depreciation, setting the tone for the overall sell-off.
FLOKI’s trading chart shows significant but volatile appreciation throughout most of last month, with the token reaching highs near $0.0003 early in March. However, it has not been able to reclaim that peak after a pullback that saw its price drop below $0.0002. The Relative Strength Index (RSI) for FLOKI is currently at 37 and climbing, indicating that the recent selloff has slowed down, and traders may expect relative stability in the near term. While FLOKI has seen some bullish price action, it is unlikely to surpass established meme coins like Dogecoin and Shiba Inu due to factors like first-mover advantage and active ecosystems supporting the tokens.
A new Solana-based meme coin called Slothana ($SLOTH) has garnered significant attention, with traders investing $7.2 million in its initial coin offering (ICO). Slothana aims to capture some of the early upside potential seen in other popular Solana meme coins like Slerfs, DogWifHat, and Bonk. Slothana features a lazy sloth character who appears uninterested in working on the blockchain, hinting at aspirations to reach $420 million. There are rumors that Slothana is from the same team that launched Smog (SMOG), a token that performed well post-presale and listing. Traders can participate in the Slothana presale by sending SOL to a specified address.
Details about Slothana are currently limited, but interested investors can join the presale and learn more about the project online. The team behind Slothana is considering whether to launch the coin on decentralized exchanges only or list it on centralized exchanges as well, inviting community input through a poll. It is important to note that investing in cryptocurrencies, including meme coins, carries high risk due to the volatility and speculative nature of these assets. This content is provided for informational purposes and should not be taken as investment advice. Investors should exercise caution and conduct thorough research before participating in any cryptocurrency investment.
