Pepe and Bonk’s rally commentator yelled at Floki
Analyst picks Floki Inu over Pepe and Bonk as meme coins join the crypto party
The addition of Bitcoin and Ethereum could increase the value of FLOKI.
As price approaches, the technical picture for the Mem coin will also be overturned.
As the memecoin world tries to join the crypto party, Pepe (PEPE) and Bonk (BONK) surged 33% and 24%, respectively, as Ethereum ETF news sparked a buying frenzy.
But while PEPE and BONK stand out among the biggest meme coins by market value today, one analyst shared some reasons to be bullish on Floki Inu (FLOKI).
“$PEPE and $BONK are both up over 34% today, which shows that the memecoin economy is extremely strong,” crypto analyst Shelby said via X.
With the two meme coins leading gains in the sector, the analyst suggests FLOKI as one to watch.
According to Shelby, the large-scale gains in Pepe and Bonk over the past 24 hours are indicative of what the market may witness with Floki.
“I believe now is a good time to start paying attention to Floki,” Shelby explained, noting that Floki's stand is one of the top commemorative coins.
Floki's ecosystem development, which includes key product enhancements, is a factor to consider when analyzing the cost potential down the road.
Floki Inu development and 2024 roadmap
Floki has seen steady progress since the team unveiled the project's 2024 roadmap earlier this year.
As part of the goal is to move Floki beyond the memecoin level, key developments to watch include staking, Floki debit cards and digital banking, and mainstream consumer product Valhalla.
In the market, FLOKI's price has recently increased by more than 13% amid a new DAO proposal seeking community approval to burn 15,246,000,000 FLOKI.
According to an announcement made Tuesday, that burn is set to take place on May 22, 2024, following approval by 99.84% of the vote.
Floki Inu price today
Today's 11% gain comes as Floki reflects the prices of major coins BTC and ETH, which has positive sentiment amid the adoption of SEC spot Ether ETFs.
Due to the approval, the high rise for cryptocurrencies FLOKI may rise. The token will burn, like the recent situation, it will also add to the positive attitude.
However, the technical picture supports a reversal for FLOKI as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) hit high strength.
Floki Inyu's price is currently at $0.00022, the highest level since early April.
