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Floki ($FLOKI) is witnessing strong bullish momentum in the home stretch of May, nearing a new all-time high.
Its performance is even more impressive when considering that the Bitcoin price dipped to $68k, spooked by the $9 billion worth of BTC that moved from the Mt. Gox wallets.
The Floki coin is currently trading at $0.00031, just over 10% away from its previous all-time high of $0.00034. Today on Tuesday, the meme coin saw a 74% surge in its daily trading volume while recording a market capitalization of $2.8 billion.
Floki’s bullish strength today could be attributed to the launch of its new Trading Bot. However, technical analysis reveals that the token will continue to be a top-performing meme coin over the next few months.
Meanwhile, a new meme coin WienerAI is also in the spotlight owing to its own AI-powered trading bot. With a relatively smaller valuation compared to Floki, experts believe $WAI could deliver up to 100x returns.
What is Behind Floki’s Upward Price Trajectory?
Floki Inu has already made a name for itself as the meme coin with one of the strongest fundamentals. Innovative tools such as FlokiFi, the Floki staking protocol and the real-world tokenization tool TokenFi have already separated it from other utility-less meme coins.
The launch of its own Trading Bot further strengthens its fundamentals. Yesterday on May 27th, Floki announced the bot’s Closed Beta Mainnet Launch, open to only 150 participants.
However, soon other investors will be able to use this multi-chain, Telegram-based bot for a seamless trading experience across multiple chains. More importantly, the bot will charge a 1% trading fee on every transaction, half of which will be used to buy back and burn $FLOKI tokens from the open market.
With Floki currently boasting close to 500,000 token holders, this new buy-and-burn mechanism could create significant deflationary pressure on the meme coin, potentially resulting in a massive boost in its price.
It is therefore not a surprise that experts back Floki to display similar explosive growth as Dogecoin in 2021.
Floki Price Prediction – Can $FLOKI Reach 1 Cent This Bull Run?
The Floki price is already up by over 40% in the past 7 days and close to 80% over the past month. However, technical analysis reveals that the meme coin still boasts strong upside potential.
Analyst CRG believes that the clean S/R flip means that a new all-time high for Floki is not far away.
Experts have also highlighted that the meme coin could also benefit from the recently approved spot Ethereum ETFs. Being one of the largest Ethereum meme coins, it could show a strong correlation to ETH.
Considering that Floki still has a market capitalization of just $2.8 billion, it would not be a surprise if the meme coin could still display 10x growth from its current valuation in the coming months.
Is WienerAI The Next Meme Coin to Explode?
Floki’s success story highlights the significance of real-world utility and strong fundamentals, even in the case of meme coins.
Following in its footsteps, a new meme coin WienerAI ($WAI) is in significant demand during its ongoing presale, having already raised over $3 million.
$WAI does boast hilarious, memetic packaging – portraying its mascot as a part dog, part sausage hybrid. Smart-money traders know better than to dismiss the upside potential of a meme coin that can make investors laugh.
However, at its core, WienerAI is much more than a utility-less meme coin. Its AI-powered Trading Bot aims to be the perfect companion for traders, answering all their investment-related queries. Additionally, it will also offer MEV protection and seamless swaps, at no additional cost.
Similar to the Floki coin, WAI has its own staking protocol, which is currently offering an APY of over 300%.
Considering its similarities to Floki and relatively low market cap, experts such as Jacob Bury believe that WienerAI could potentially be the next 100x meme coin.
*Cryptonomist did not write the article or test the platform.
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