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Is Floki About to Crash? FLOKI Price Drops as Investors Shift to Wiener AI

Tim Hakki
Last updated: | 2 min read

Popular canine meme coin Floki ($FLOKI), a homage to Elon Musk’s eponymous Shiba Inu, is down 9% overnight and 32% over the week, taking the heaviest intraday and intraweek losses of any top ten meme coin.

The token trades at $0.000217 at the time of writing.

In comparison, the original and largest meme coin by market capitalization, Dogecoin ($DOGE), shed 1.7% overnight and 7.6% in the last seven days to trade at $0.1338 as of this writing.

Most meme coins are tracking Bitcoin’s ($BTC) losses: the world’s first and favorite cryptocurrency lost 1% overnight and 5% over the week to trade at $65,863.

Shiba Inu ($SHIB) posted the second heaviest intra-week losses among the five biggest meme coins, falling 14% over the week to retail at $0.0000202.

Leading Solana doge meme coins, DogWifHat ($WIF) and Bonk ($BONK), shed 15% and 12% over the last seven days to trade at $2.41 and $0.00002335, respectively.

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 in the early day of June took it briefly up to a new all-time high of $0.0003449 on June 5, but the coin faces very heavy resistance breaking up to $0.00035.

Source: TradingView

Since hitting ATH twelve days ago, Floki’s price has undergone a heavy correction of about 47%, which has broken its previously rising support, indicated by the diagonal green line.

A relative strength index (RSI) of 26 and rising indicates the sell-off has finished and some dip-buying is likely to happen throughout the remains of the day, which could stabilize the token again.

Amidst Floki’s $FLOKI Crashes, Crypto Investors Lap Up AI Trading Bot Meme Coin WienerAI

Floki’s recent all time high was driven by news that the team are preparing a trading bot, which the $FLOKI token will power.

Floki’s pivot towards greater utility is a telling 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 beginning its third month and it has already taken a tidy $5.9 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.

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 193% 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.