The post Is FLOKI’s rising popularity a threat to SHIB? appeared on BitcoinEthereumNews.com.

FLOKI’s social popularity grew significantly over the last few days. Declining sentiment around FLOKI and SHIB raised concerns around their prices. The recent surge in interest in Bitcoin [BTC] not only positively influenced blue-chip coins, but it has also had a favorable impact on the memecoin sector. Rising popularity Floki [FLOKI], a popular memecoin on the BNB network was one of the few coins that gained popularity on the social front. It ranked among the top 10 memecoins that had the highest number of mentions in the last 24 hours. This surge in social activity coincided with a surge in its price, which also grew during this period. At press time, FLOKI was trading at $0.00003456 and its price had grown by 7.43%.  The volume at which it was trading also rose by 87.15% in the last 24 hours. Source: Crypto Insights Growing competition This spike in interest on the social front, translated to its overall growth in terms of social dominance. This meant that FLOKI had outperformed memecoins such as SHIB, in terms of garnering attention on social media platforms. AMBCrypto’s analysis of Santiment’s data revealed that SHIB’s social dominance declined over the last week, whereas FLOKI’s increased. Source: Santiment A decline in interest on the social front could have negative impacts on the overall growth of the SHIB token which was trading at $0.00000973. Moreover, its price declined by 0.59% in the last 24 hours. In terms of sentiment, both FLOKI and SHIB weren’t doing well. According to AMBCrypto’s analysis of Santiment’s data, the weighted sentiment around both the tokens fell significantly. This meant that the number of negative comments around both these tokens outnumbered the positive ones in the last few days. The decline in the sentiment around the tokens could impact the price of these tokens…

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Filed under: News - @ February 21, 2024 10:24 am