Outside Source
Floki has rallied 7.5% this week as many other major cryptocurrencies break even.
Similarly, Play-to-Earn (P2E) meme coin Shiba Shootout is garnering attention as its presale raise clears $1 million.
Floki Price Booms As Ecosystem Continues to Build
There are thousands of meme coins on the market, and most compete for the lowest-hanging fruit with zero utility outside of “good vibes.”
They thought the Dogecoin and Pepe blueprint would work – but as they’re discovering – there’s only room for a few long-term runners in that race.
Projects like Floki and Shiba Inu are well aware of this and distinguish themselves with utility.
Last cycle, Shiba Inu led the way among “alt” meme coins, thanks to its promises of a metaverse, NFTs, and a decentralized exchange.
Unfortunately, many of its developments flopped, but that has not been the case for Floki.
The project keeps hitting home runs, and investors are taking note – its price is up 7.5% this week.
Meanwhile, DOGE is up 2.9%, SHIB is at breakeven, and Pepe is down 1.3%.
But it’s not just relative strength against its peers drawing attention.
Analyst Sleek Crypto believes Floki is currently in the process of breaking above a key resistance, which would enable high time frame gains.
About to breakout pic.twitter.com/8QBkKG5KBy
— SleekCrypto (@TheCryptoSleek) September 8, 2024
Meanwhile, Corné Marchand says it is “looking strong” while “holding crucial support and forming a higher low.”
According to the analyst, Floki will reverse from this support zone and commence an uptrend.
$FLOKI looks pretty strong here. Holding crucial support and forming a higher low.
Who’s long on #Floki? pic.twitter.com/6jSTuy4Qiz
— Corné Marchand (@MarchandCorne) September 8, 2024
What’s causing this technical strength?
It’s 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.
This comes just weeks after Floki announced that it will sponsor Premier League football clubs and eSports teams to promote the game.
Floki becomes Official Cryptocurrency Partner of Nottingham Forest in the Premier League 2024/2025 season! ⚽️
Two days after announcing Valhalla’s marketing campaign across the entire Premier League for the 24/25 season, we’re thrilled to announce that Floki will be sharing the… pic.twitter.com/vihcrfId2t
— FLOKI (@RealFlokiInu) August 15, 2024
They’re also expanding operations with the Floki trading bot, recently partnering with viral meme coin Simon’s Cat to refund trading fees plus a free 5% bonus for every CAT trade.
The promotion garnered tons of attention, with the X post seeing 422K views so far.
Floki’s commitment to innovative features has enabled an impressive price performance. Year-on-year, its price is up 611%, and it currently has a $1.1 billion market cap.
As evidenced by analyst opinions, it still has room for growth. However, traders may be seeking lower market cap alternatives that could give more upside potential.
Shiba Shootout could be a good pick. It’s a P2E meme coin with multiple innovative utilities, and it is currently in presale.
P2E Meme Coin Shiba Shootout Raises $1M As Analyst Forecasts 100X Gains
Shiba Shootout is in its presale but is not waiting to take action. The team has already launched a beta version of its P2E game on the App Store and Google Play Store.
It’s a Wild West-themed game called Shiba Sharpshooter. Players will face off in epic gun battles, testing their aim and timing in a battle of wits.
When the polished version launches, users will earn $SHIBASHOOT tokens for playing.
And that’s not the only utility on the cards. The project is packed with features like staking, a lottery, on-chain governance, a referral scheme, and incentivized community storytimes.
The presale is ongoing and has raised $1 million so far.
Analysts have high expectations for once it launches on the open market. Bullish predictions have flooded in, but Michael Wrubel’s might be causing the biggest buzz.
The analyst, who has over 300K YouTube subscribers, slated Shiba Shootout as “the next 100x Shiba Inu.”
He revealed that he invested in the project, signaling that smart money traders are getting in early.
The current Shiba Shootout presale price is $0.0201, but this will rise throughout the ICO.
As such, those seeking the maximum value for money should not wait around.
This article first appeared at CryptoPotato
