Floki (FLOKI), the dog-themed meme coin named after Elon Musk’s Shiba Inu, is back in the spotlight.
After pumping another 10% since yesterday, FLOKI is trading at around $0.00022.
But is now a good time to invest in the token, or will the bullish momentum fizzle out?
FLOKI Price Surges as Meme Coin Momentum Returns
FLOKI’s comeback has been nothing short of impressive.
Over the past ten days, the token has surged 39% as meme coin momentum returned to the market.
Earlier today, FLOKI even tapped $0.000245 – a level that hasn’t been seen since April 1.
That pushed its market cap past $2.1 billion, enough to dethrone Bonk (BONK) as the 5th biggest meme coin by total value.
The resurgence isn’t just reflected in FLOKI’s price action either.
Over $809 million worth of the token changed hands in the last 24 hours alone, a 67% spike compared to the previous day.
Even FLOKI’s technicals are aligning for more upside.
After rejecting the 20-day EMA as support on Monday, FLOKI has continued to push higher.
And with the token now just 54% below its 2021 all-time high, some inklings of FOMO are beginning to emerge as investors ponder whether FLOKI is about to break out again.
Is FLOKI a Buy Opportunity Right Now?
So is the FLOKI comeback here to stay, or just a flash in the pan?
There are some compelling reasons to believe the former.
For one, the overall mood in the crypto market has flipped bullish in the past few days.
With spot ETH ETFs looking likely to be approved in the US, speculation is ramping up.
And in hype-driven environments like this, meme coins often get their chance to shine.
Additionally, FLOKI’s tokenomics are receiving a healthy boost via a massive 15 billion token burn happening today.
Although that only represents around 0.15% of the circulating supply, it could still be enough to drive up its price.
Then there’s the Valhalla NFT game that’s in its testnet phase.
FLOKI’s development team released a live game demo earlier this week, getting community members pumped for its official release.
Considering all of these factors, there’s a case to be made that FLOKI represents a potential buy opportunity at current levels.
However, given the nature of meme coins, it’s important to be aware that FLOKI’s price could plummet just as quickly as it could rally.
Which Meme Coins Could Be a Better Buy Than FLOKI?
While FLOKI’s revival is impressive, some investors are already looking for the next big thing.
That’s where Sealana (SEAL) comes in – a seal-inspired token many believe could outpace FLOKI in the latter half of 2024.
South Park-Themed Sealana Attracts Big-Name Endorsements After Raising $2.3M
In just three weeks, Sealana’s presale has raised over $2.3 million from investors who hope it’s the next breakout meme coin.
But it’s not just these impressive presale numbers that are turning heads.
Sealana’s success is also down to the token’s hilarious design and red-hot community engagement.
Its mascot is inspired by the “World of Warcraft guy” from South Park.
That built-in relatability to online culture has led to a wave of memes and jokes within Sealana’s Telegram channel.
Combine that energy with a growing Twitter following (over 5,200 followers already), and it’s easy to see why some early backers believe SEAL could post bigger gains than FLOKI this year.
Additionally, while still early into its lifecycle, the influencer community is buzzing about SEAL.
Big names like YouTuber Jacob Bury have described it as one of the top meme coins to buy now.
Bury’s endorsement was backed up by fellow YouTuber ClayBro, who highlighted that Sealana could follow in the footsteps of Slothana, another successful joke coin launched on the Solana blockchain.
Overall, while FLOKI might be making a comeback, the momentum behind Sealana looks to be on another level.
