March 19, 2024 5:02 PM | 2 min read
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Floki (CRYPTO: FLOKI), considered a rival to Dogecoin, is holding onto its gains ahead of key announcements by the community and positive analyst sentiment surrounding the token.
What Happened: Floki’s official X (formerly Twitter) account reveals that the community has scheduled a Spaces session for a marketing announcement on Thursday, March 21, and a new roadmap reveal on Friday, March 22.
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In a separate development on March 18, Floki announced that 3.7 billion FLOKI tokens, worth $772,234, were burned last week. This makes Floki perpetually deflationary compared to other meme coins like Dogecoin, Pepe, Shiba Inu, Bonk and Dogwifhat.
Over the past 24 hours, Floki gained 2%, making it the only meme coin in positive territory among competitors such as Pepe, Book of Meme and Slerf. Trading volumes for Floki have increased by 20% during the same period.
Also Read: Forget Dogecoin And Shiba Inu — This Meme Coin Has Surged Nearly 70% In Just 24 Hours
Why It Matters: Commenting on the upcoming developments, crypto trader Scofield stated in a recent tweet, “Floki outperformed every other meme coin during the recent meme coin run because they never stopped building. It looks like they are doubling down!”
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Scofield added that Floki would be the main meme coin to watch this cycle, rather than Dogecoin, Pepe, Shiba Inu or Dogwifhat.
A Floki community member emphasized that Floki is different from other meme coins, serving as more than just a fun or speculative vehicle. Instead, it represents a crypto revolution. The upcoming roadmap is expected to demonstrate that Floki is serious about its mission.
Another crypto trader shared their thoughts on Floki in a recent tweet:
With token burns, increasing utility, upcoming announcements, and positive analyst sentiment, Floki seems to be well-positioned for potential growth in the near future.
Read Next: Floki Inu Strikes Back At ‘Shiba Inu Killer’ Dogwifhat With 70% Surge: Times Square Ad Coming Next
Image: Shutterstock
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