Floki FLOKI/USD, 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.
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!”
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
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
