Floki is one of the world’s largest meme coins and has been having a blast lately.
As we enter July, speculations are rising about whether FLOKI will break the crucial level of $0.002 this month, or if the token will continue to trade sideways.
FLOKI takes a deep breath, but remains the most traded Meme coin
Let’s take a closer look at where FLOKI stands right now.
The token is currently priced at $0.000173, taking a breath after price fluctuations in May and June.
Since mid-June, FLOKI has been trading sideways while other meme coins have been on the rise.
Of course, the token has dropped 50% from its all-time high on June 5th.
But zoom out a bit, and you’ll see it’s still up 97% since the beginning of 2024.
Not bad for a meme coin that’s attracted much less attention than PEPE and WIF.
Technically, FLOKI has been struggling with crucial moving averages.
It has been relying on the 200-day exponential moving average (EMA) for support, but seems unable to break the resistance of the 50-day moving average.
Classic range-bound behavior.
But interestingly: spot trading volume has surged by 32%, reaching $297 million, making FLOKI the fifth most traded meme coin.
As open interest climbs to $20 million, traders seem to be gearing up for a potential breakout.
Can FLOKI reach $0.002 this month?
So, can FLOKI break the crucial level of $0.002 this month?
Well, let’s break it down.
This would require a 16% increase in FLOKI’s price.
For most altcoins, this would be a significant rebound – but FLOKI has achieved this leap numerous times in its lifetime.
In fact, the token has even achieved such gains in a single day in May.
Recently, FLOKI’s team has been stirring the pot.
They joked that their upcoming game, “Point Game” (P2E), has been leaked and will be launched later this year.
Not to mention, they just held an AMA where a key advisor reiterated their commitment to long-term development.
It looks like the FLOKI team is intentionally maintaining this momentum.
However, in recent weeks, the meme coin market has been highly unpredictable.
Still, despite significant price fluctuations, FLOKI remains one of the most traded meme coins.
If the token can keep above the 200-day moving average and use it as dynamic support, $0.002 is not only possible, it might be inevitable.
Which other Meme coins might bounce back in July?
While FLOKI’s potential surge has caught people’s attention, it’s not the only meme coin looking bullish.
Let’s take a look at PlayDoge (PLAY), a new product that gained traction during its presale phase.
Nostalgic meets crypto with PlayDoge – a new P2E meme coin
PlayDoge has had an incredibly strong start to its lifecycle.
But this isn’t just another impractical meme coin.
Imagine this: remember the 90s Tamagotchi pets?
Now imagine a Doge that you can not only keep alive but earn cryptocurrency with.
In short, that’s PlayDoge.
You feed it, play mini-games with it, and in return, you earn play – PlayDoge’s native BEP-20 token.
It combines childhood nostalgia with cryptocurrency rewards.
However, PlayDoge is not just a P2E game.
The PlayDoge ecosystem also has a staking protocol with an estimated annual yield of 111%.
Over 169 million PLAY tokens have been locked in the staking protocol before the project’s official launch.
With 12% of the total token supply allocated to staking rewards, developers are evidently focused on passive income.
The presale of PlayDoge has already raised over $5.3 million in early funding.
The presale price of the PLAY token is $0.00515 per token, but this price increases every few days, encouraging investors to get in early.
Members of PlayDoge’s Telegram channel are cheering for this discounted entry price.
If the project continues on its current trajectory, it’s likely to also have an optimistic July, much like FLOKI.
Visit the PlayDoge presale
Disclaimer: The above article is sponsored content; it is written by a third party. CryptoPotato does not endorse or take responsibility for the content, advertisements, products, quality, accuracy, or other materials on this page. None of the content should be interpreted as financial advice. Readers are strongly advised to independently verify information and conduct their research before engaging with any mentioned companies or projects. Investing in cryptocurrencies carries the risk of capital loss, and readers are also advised to consult with professionals before making any decisions based on or not based on the above sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.