Floki in Trouble? Price Falls 31% as New AI Meme Coin Hits $5.6M – Billion-Dollar Future?
Popular canine meme coin Floki ($FLOKI), a homage to Elon Musk’s eponymous Shiba Inu, is having a very bad week.
The token shed 31% in the last seven days to trade at $0.000217 at the time of writing.
Floki’s losses are heavier than any other Doge-themed meme coin this week. In comparison, the original doge meme coin Dogecoin ($DOGE) shed 12% and trades at $0.1435 as of this writing.
Shiba Inu ($SHIB) posted slightly heavier losses of 16% over the week an trades at $0.0000215
Solana’s leading doge meme coins, DogWifHat ($WIF) and Bonk ($BONK), shed 24% and 18% to trade at $2.50 and $0.0000263, respectively.
Newcomer DOG-GO-TO-THE-MOON ($DOG) shed 20% to land on $0.007621.
Many leading meme coins are amplifying a broad decline across the crypto market this week. The largest cryptocurrency by market capitalization, Bitcoin ($BTC), only shed 4.4% over the week and is presently worth $67,727.
On Floki’s trading chart, the token has struggled to pass the $0.0003 resistance level (indicated by the red line) for most of the year. A short-lived rally at the beginning of last week took it briefly up to a new all-time high of $0.0003449, but the coin has since undergone a heavy correction of about 37%, which has scuppered its steadily rising support, indicated by the diagonal green line.
A relative strength index (RSI) of 35 and rising indicates a possible recovery after some heavy selling pressure, but more market-wide losses could see the token’s support falling further.
As FLOKI Tumbles, Crypto Fans Bundle Into AI Trading Bot Meme Coin WienerAI
Floki’s all time high last week was bolstered by news that the team are preparing a trading bot, which the token will power.
This is a sign of where the meme coin sector is headed: the tokens are having to find new utility to stay ahead of the market as the world inches towards wider crypto adoption.
Accordingly, a new generation of coins like ScottytheAI and WienerAI are doing what no other meme projects are doing right now: integrating artificial intelligence to make their holders’ lives easier.
On the surface, WienerAI looks like another dog-themed meme coin, but it’s much more than that.
It’s a next-generation crypto project that utilizes viral marketing strategies in order to bring crypto fans a high-value proposition: the most advanced beginner-friendly AI trading bot in crypto.
The presale is in its second month and it has already taken a tidy $5.6 million in investments.
Touted as a “Revolutionary AI Trading partner”, WienerAI ($WAI) is a digital companion that gives its owners user-friendly AI-enhanced trading advice, seamless swap functionality and zero fees.
We are forming an unstoppable Army of Sausages!! 🌭🌭🌭
An incredible $5.5M raised in mere days and no sign of slowing down 😮💨 pic.twitter.com/q2R7xqLE02
— WienerAI (@WienerDogAI) June 12, 2024
Moreover, Blockchain security platform Coinsult audited WienerAI’s smart contract.
Around 20% of $WAI’s supply is for staking.
WienerAI’s website offers buyers the ability to stake during the presale, in order to take advantage of the mouth-watering yield, which is currently 200% APY.
Keep on top of WienerAI news over on X and Telegram.
Join the presale now over on the WienerAI website
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
