Floki has rallied 7.5% this week as many other major cryptocurrencies break even.<\/p>\n
Similarly, Play-to-Earn (P2E) meme coin Shiba Shootout is garnering attention as its presale raise clears $1 million.<\/p>\n
There are thousands of meme coins on the market, and most compete for the lowest-hanging fruit with zero utility outside of \u201cgood vibes.\u201d<\/p>\n
They thought the Dogecoin and Pepe blueprint would work \u2013 but as they\u2019re discovering \u2013 there\u2019s only room for a few long-term runners in that race.<\/p>\n
Projects like Floki and Shiba Inu are well aware of this and distinguish themselves with utility.<\/p>\n
Last cycle, Shiba Inu led the way among \u201calt\u201d meme coins, thanks to its promises of a metaverse, NFTs, and a decentralized exchange.<\/p>\n
Unfortunately, many of its developments flopped, but that has not been the case for Floki.<\/p>\n
The project keeps hitting home runs, and investors are taking note \u2013 its price is up 7.5% this week.<\/p>\n
Meanwhile, DOGE is up 2.9%, SHIB is at breakeven, and Pepe is down 1.3%.<\/p>\n
But it\u2019s not just relative strength against its peers drawing attention.<\/p>\n
Analyst Sleek Crypto believes Floki is currently in the process of breaking above a key resistance, which would enable high time frame gains.<\/p>\n
$FLOKI<\/a><\/p>\n About to breakout pic.twitter.com\/8QBkKG5KBy<\/a><\/p>\n \u2014 SleekCrypto (@TheCryptoSleek) September 8, 2024<\/a><\/p>\n\n Meanwhile, Corn\u00e9 Marchand says it is \u201clooking strong\u201d while \u201cholding crucial support and forming a higher low.\u201d<\/p>\n According to the analyst, Floki will reverse from this support zone and commence an uptrend.<\/p>\n $FLOKI<\/a> looks pretty strong here. Holding crucial support and forming a higher low.<\/p>\n Who\u2019s long on #Floki<\/a>? pic.twitter.com\/6jSTuy4Qiz<\/a><\/p>\n \u2014 Corn\u00e9 Marchand (@MarchandCorne) September 8, 2024<\/a><\/p>\n\n What\u2019s causing this technical strength?<\/p>\n It\u2019s robust fundamentals. The Floki ecosystem is becoming stronger each day. They recently revealed gameplay for its NFT-based P2E game, Floki Valhalla, which is currently in its beta version.<\/p>\n This comes just weeks after Floki announced that it will sponsor Premier League football clubs and eSports teams to promote the game.<\/p>\n Floki becomes Official Cryptocurrency Partner of Nottingham Forest in the Premier League 2024\/2025 season! <\/p>\n Two days after announcing Valhalla\u2019s marketing campaign across the entire Premier League for the 24\/25 season, we\u2019re thrilled to announce that Floki will be sharing the\u2026 pic.twitter.com\/vihcrfId2t<\/a><\/p>\n \u2014 FLOKI (@RealFlokiInu) August 15, 2024<\/a><\/p>\n\n They\u2019re also expanding operations with the Floki trading bot, recently partnering with viral meme coin Simon\u2019s Cat to refund trading fees plus a free 5% bonus for every CAT trade.<\/p>\n