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Falling Bitcoin prices have prompted a dump in the altcoin market, but that is not the only reason behind their poor performance, according to a new 10x Research report. The report highlights several key reasons behind the crash.
FLOKI, the popular dog-themed meme coin, has impressed its investors with its earlier gains, rising to an all-time high of $0.0003462 on June 5. However, this surge did not last long as the price dumped almost immediately and has bagged a 51% drop since then.
The world's largest crypto exchange Binance on Tuesday said it will add new FDUSD, USDC, and USDT trading pairs on cross margin and isolated margin. Binance will list several cryptocurrencies including SATS (1000SATS), dogwifhat (WIF), Notcoin (NOT), Bonk (BONK), zkSync (ZK), and Floki (FLOKI).
The memecoins were trading in a bullish pattern, which indicated a strong breakout after a brief consolidation. Unfortunately, the bears played out well and slashed the Bitcoin price below $65,000, which shook the entire market along with the memecoins. The top tokens like Pepe, FLOKI, WIF, BONK, BOME, etc.
Shiba Inu competitor FLOKI has been one of the best performers this year and continues to maintain a high level in the market. Its price has more than doubled in 2024, prompting an influx of new investments into the meme coin.
Tether CEO Paolo Ardoino recently referred to Bitcoin as the only true decentralized cryptocurrency, lauding its uniqueness and consistency. The CEO of the largest stablecoin issuer maintained that Bitcoins' status as the apex cryptocurrency might never be usurped.
Pseudonymous trader ‘Trading Vapor‘ suggested meme coins are poised to benefit the most from the upcoming alt season. What Happened: Trading Vapor shared his observation that sentiment towards both altcoins and meme coins is bad but thinks this is misplaced.
Here is how some of your favorite assets concluded the week.
The next few days and weeks might be interesting for those invested in FLOKI's price action
This past week, the cryptocurrency market has experienced mixed sentiments. While some assets have soared to new highs, others have plummeted to new lows.
The crypto market is currently facing selling pressure, and cryptocurrencies Shiba Inu (SHIB), Dogwifhat (WIF), FLOKI and PEPE are not exempt from the bearish action, posting significant losses over the past day.
If the bulls re-emerge and regain market control, they can drive FLOKI's price up above the current support level.
Cryptocurrencies and stocks rebounded on Wednesday after the weak US inflation data and as investors bought the recent dip.
The meme coin economy is thriving on Wednesday, ahead of the U.S. Federal Reserve meeting, as the sector saw nearly $4 billion injected over the last 12 hours. Several meme tokens experienced substantial gains, with BENJI rising 36.9%, MAGA increasing 23.2%, and the runes-based DOG gaining 22.1%. Crypto Market Rises 3.
Floki, originally inspired by Elon Musk's dog and dubbed the “people's currency,” has grown beyond its meme roots. As a major player in the web3 space, and the recent price jump, many bullish FLOKI price predictions are circulating in the crypto market.
As the cryptocurrency correction accelerates, meme coins are among the worst sufferers yet again thanks to being highly volatile. Traders of meme coins faced an eight-digit liquidation wave in the last 24 hours.
The broader market slump hit Floki (CRYPTO: FLOKI), causing the dog-themed memecoin to become one of the biggest losers in the last 24 hours. What Happened: Floki endured losses of more than 9%, surpassing the declines seen in blue-chip currencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and the broader memecoin sector.
Floki Name Service, a decentralized domain name service by the popular meme coin, is now live exclusively on the BNB Chain mainnet. This service allows users to create a unique .floki domain name, which can be used as an on-chain identity and for other purposes such as launching a decentralized website, blog, or résumé.
FLOKI's Web3 name service is proudly unveiled in spite of the unceasing bearish market sentiment.
Floki Inu is in a downtrend where its price has continuously declined for days. It is not the most disappointing part, as more disappointment comes from the fact that it just recently surged to its maximum, creating an all-time high record of $0.0003462 just six days ago.
Floki Inu (CRYPTO: FLOKI) announced the launch of its new name service enhancing utility and fundamentals of the ecosystem, prompting renewed bullish price predictions from analysts. What Happened: Floki announced that its "Floki Name Service" is now available exclusively on BNB Chain mainnet.
BEER is one of the very few meme coins witnessing some gains today (June 11).
Here are three cryptos to avoid, for long-term investors concerned about potential downside during the next crypto market downturn.
Memecoin sensation Floki has announced that its Name Service is now live on the BNB Chain mainnet. FLOKI Expanding its Utility The Floki Name Service feature is a decentralized domain offering that allows anyone to create a decentralized .floki domain name.
