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Tim Hakki
Author
Tim Hakki
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The $1.2 billion market cap meme coin Floki ($FLOKI), the sixth biggest in the $42 billion meme coin sector, has overnight fallen 20% to trade at $0.0001268.
These were the biggest losses posted by a top fifty meme coin in the last 24 hours.
In contrast, sector leader Dogecoin ($DOGE), added 1.5% to its price overnight and now trades at $0.1021.
Over the last seven days, original meme coin Dogecoin shed 4.1%. These losses were a little lighter than those felt by Floki meme holders, whose tokens dropped 7.4% over the period.
Floki crashed harder than any of the top 75 meme coins, or any other cryptocurrency in the top 100 by market capitalization. The price spiral looks like the result of a 2.5-year-dormant whale wallet returning and dumping 15.22 billion Floki ($2.27 million) into Binance.
The only trillion dollar cryptocurrency, market leader Bitcoin ($BTC), posted nominal overnight losses of 0.3% and slightly stiffer intra-week losses of 2.4% to trade at $59,559 at the time of writing.
Ethereum ($ETH), the token underpinning the biggest blockchain for decentralized financial (DeFi) activity, dropped a percent overnight and 5.6% over the week to change hands at $2,521.
Floki’s price has collapsed from July 22 when the meme coin was posting highs of $0.0002. The crypto crash on August 5 dragged many major coins to post recent lows on that day, including Floki, which bottomed out at $0.0001.
Its relative strength index (RSI) is 22 and rising indicating the asset is now oversold, giving headroom for a possible overnight stabilizing or rebound.
Floki’s Price Acrobatics Sends Meme Coin Fans Into Crypto All-Starz
Floki is currently testing trading bot features and expanding its ecosystem and it may flip Bonk ($BONK) to be the fifth largest meme coin by market cap, but as an established meme coin its price tracks Bitcoin in a volatile manner and often it soaks up the heaviest losses in a market downturn.
That’s why it’s always worth looking off the beating track for some of the catalytic gold rushes of early crypto prospecting. There are many tokens still only in pre-sale that are quietly attracting millions.
One project pioneering a unified staking protocol for meme coin fans is Crypto All-Stars ($STARS) a revolutionary staking platform that brings together the most celebrated meme coins (except Floki!) in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 1,653%.
To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.
This new meme coin project has gained so much popularity that its presale has already raised over $864,000 since its launch last week.
Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.
So, if you are an investor looking to put your money to work, Crypto All-Stars is a better meme coin than Floki. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Starz pre-sale Website Here
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.
