Is $FLOKI Going Down? Price of FLOKI Falls 10% as Attention Shifts to Upcoming Coin for Solana Memes

Due to intense competition from rivals located in Solana, the price of #FLOKI , a popular ERC-20 meme currency, has fallen.

In the last week, FLOKI's price has dropped 12% to $0.0002064, joining a wider market correction that has cut the value of almost all major cryptocurrencies.

Several other prominent meme currencies nowadays have seen a decline similar to FLOKI's.

As to CoinMarketcap, Shiba Inu (SHIB), PEPE, and BONK all saw comparable declines in value throughout the last seven days.

Nevertheless, a number of prominent Solana meme currencies outperformed their ERC-20 counterparts and saw price increases; the biggest of them, DogWifHat (WIF), jumped 20% since last Wednesday.

Dogecoin (DOGE), the most valuable meme currency by market value, did rather well throughout the decline, losing just about 5% and trading at $0.18 as of this writing.

Ethereum (ETH) and Bitcoin (BTC), the two most valuable cryptocurrencies in the market, both saw significant losses last week, likely leading the sell-off. With a 6.6% decline to $65,895, Bitcoin is down and Ethereum is down 8% to $3,308.

A large portion of last month was marked by considerable and fluctuating appreciation on FLOKI's trading chart. Despite briefly touching $0.0003 at the beginning of March, the token has unable to recover from a downturn that bottomed out three weeks later at $0.0002.

The Relative Strength Index (RSI) for FLOKI is 37 and rising. This means the recent decline has leveled out, and for the time being, traders may anticipate a period of relative stability.

#BullorBear #SHIB