Even as major players like Bitcoin and Ethereum struggle to break past important price levels
Major cryptocurrency, Bitcoin, is still trading below the $100,000 mark, while Ethereum is yet to break past the $2,000 level. However, another cryptocurrency, Floki, has shown impressive surges recently, especially when compared to Bitcoin and Ethereum's struggles to reach new highs.
Over the last week, the price of Floki has risen by about 33%, reaching $0.00007974. In contrast, Bitcoin experienced an 8% increase, and Ethereum went up by 9%. This sudden momentum has sparked excitement across social media platforms, with traders and investors taking a closer look at Floki and price changes.
One user, known as SlumDOGE Millionaire, posted on X (formerly Twitter) that the growth of Floki is remarkable compared to the sluggish movements of other big cryptocurrencies. His optimism was clear as he encouraged his followers to "strap in" for what could be an exciting journey. This came at a time when Floki was outperforming not only Dogecoin but also Shiba Inu.
"Seriously think about that… #BTC is still under $100K #ETH is still under $2K when #ETH finally surpasses all time high – what do you think $FLOKI will do? Strap in," the message reads.
Coming after Bitcoin’s price experienced a 1% increase in the last 24 hours, the original poster highlighted how the smaller coin's gains outpaced the flagship cryptocurrency's.
The memecoin, also known as Floki Inu, has risen by over 33% in the last month, while Dogecoin slipped 1.65% in the same period. Additionally, Shiba Inu managed a tiny gain of 1.3%, in stark contrast to Floki's significant surge.
Many analysts believe this surge is a sign that Floki could soon be recognized as a key player in the crypto space. However, Cathie Wood, the founder of Ark Invest, recently warned that meme coins could suffer "fearsome declines" in the future. She believes many could end up as nothing more than digital collector’s items.
Despite this warning, many Floki supporters remain optimistic. After all, the coin's recent rally speaks volumes about its potential. For now, as SlumDOGE Millionaire says, the best approach might be to "strap in" and watch where Floki heads next. The excitement around Floki shows no signs of slowing down.
