Floki is up 7.5% this week while many other major cryptocurrencies are breaking even.
Similarly, Play-to-Earn (P2E) meme coin Shiba Shootout is attracting attention as its pre-sale fundraising surpasses $1 million.
Floki price increases as the ecosystem continues to develop
There are thousands of meme coins on the market, and most of them are competing for the easiest options to get, with no utility beyond “good vibes.”
They thought the Dogecoin and Pepe model would work, but as they are finding out, there is only room for a few long-term runners in that race.
Projects like Floki and Shiba Inu are well aware of this and are distinguished by their usefulness.
In the last cycle, Shiba Inu led the way among “alternative” meme coins, thanks to its promises of a metaverse, nfts, and a decentralized exchange.
Unfortunately, many of their developments failed, but that has not been the case with Floki.
The project continues to deliver strong results and investors are taking note: its price has risen by 7.5% this week.
Meanwhile, DOGE is up 2.9%, SHIB is at breakeven, and Pepe is down 1.3%.
But it is not just its relative strength compared to its peers that is striking.
Analyst Sleek crypto believes that Floki is currently in the process of breaking out above a key resistance, which would allow for gains on higher time frames.
<blockquote class="twitter-tweet”>
twitter.com/search?q=%24FLOKI&src=ctag&ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>$FLOKI
About to explode photo.twitter.com/8QBkKG5KBy
— SleekCrypto (@TheCryptoSleek) twitter.com/TheCryptoSleek/status/1832737346543853877?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>September 8, 2024
Meanwhile, Corné Marchand says it “looks strong” as it “holds crucial support and forms a higher low.”
According to the analyst, Floki will reverse from this support zone and start an uptrend.
<blockquote class="twitter-tweet”>
twitter.com/search?q=%24FLOKI&src=ctag&ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>$FLOKI It looks pretty strong here. It holds crucial support and forms a higher low.
Who's been here a long time? twitter.com/hashtag/Floki?src=hash&ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>#Floki? image.twitter.com/6jSTuy4Qiz
— Corné Marchand (@MarchandCorne) twitter.com/MarchandCorne/status/1832738972071530614?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>September 8, 2024
What is causing this technical strength?
Their fundamentals are solid. The Floki ecosystem is getting stronger every day. They recently revealed gameplay for their nft-based P2E game, Floki Valhalla, which is currently in beta.
This comes just weeks after Floki announced it will sponsor Premier League football clubs and eSports teams to promote the game.
<blockquote class="twitter-tweet”>
Floki becomes Nottingham Forest's official cryptocurrency partner for the 2024/2025 Premier League season!
Two days after announcing Valhalla’s Premier League-wide marketing campaign for the 24/25 season, we’re delighted to announce that Floki will be sharing… image.twitter.com/vihcrfId2t
– FLOKI (@RealFlokiInu) twitter.com/RealFlokiInu/status/1824041291207876823?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>August 15, 2024
They are also expanding operations with the Floki trading bot, and recently partnered with viral meme coin Simon's Cat to reimburse trading fees plus a free 5% bonus for every CAT trade.
The promotion attracted a lot of attention, with the x.com/RealFlokiInu/status/1832396120812585416″ data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>Post x has 422 thousand views until now.
Floki’s commitment to innovative features has enabled impressive price performance. On a year-over-year basis, its price has increased by 611% and it currently has a market cap of $1.1 billion.
As analysts' opinions show, it still has room for growth. However, traders may be looking for smaller market-cap alternatives that could offer greater upside potential.
Shiba Shootout could be a good option. It is a P2E meme coin with multiple innovative utilities and is currently in pre-sale.
P2E meme coin Shiba Shootout raises $1M as analysts predict 100x earnings
Shiba inu shootout is in pre-order but isn’t waiting to get into action. The team has already launched a beta version of their P2E game on the App Store and Google Play Store.
This is a game set in the Wild West called Shiba Sharpshooter. Players will engage in epic gun battles, testing their aim and sense of timing in a battle of wits.
When the polished version is released, users will earn $SHIBASHOOT tokens for playing the game.
And that’s not the only utility on offer. The project is packed with features like staking, a lottery, on-chain governance, a referral scheme, and incentivized community story moments.
The pre-sale is ongoing and has raised $1 million so far.
Analysts have high expectations for the market launch. There have been plenty of bullish predictions, but Michael Wrubel's might be the ones that have caused the most stir.
The analyst, who has more than 300,000 subscribers on YouTube, called Shiba Shootout “the next Shiba Inu 100x.”
He revealed that he invested in the project, indicating that smart money traders are getting in early.
The current pre-sale price of Shiba Shootout is $0.0201, but it will increase throughout the ICO.
Therefore, those looking for maximum value for money should not wait.
Visit the Shiba Shootout pre-sale
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