Will Floki end the year outperforming Dogecoin?

Journalist

Posted: December 11, 2023

• Dogecoin has grown by around 15% in the last seven days.
• Floki Inu has seen more growth of over 17% at the same time.

Over the past few days, Dogecoin [DOGE] and Floki Inu [FLOKI] have experienced distinct and noteworthy price movements. Given the current trends, what could be the year-end outcome for these meme tokens?

Dogecoin sees downtrend

Over the past three days, the daily chart for Dogecoin showed notable price fluctuations.

Within the last seven days, the coin experienced two instances of a daily value surge, each surpassing 6%. The most recent substantial increase, accounting for a 6.24% rise, occurred on 8th December, propelling the price to $0.10. 

Source: TradingView

However, there has been a downturn in value over the last two days. As of this writing, it was trading at around $0.09, reflecting a minor decrease of less than 1%.

Despite these recent declines, it has managed to sustain its bullish trend. As of the latest update, the Relative Strength Index (RSI) was above 68. It’s worth noting that the RSI line has also experienced a decline due to the recent downturns in price.

Floki Inu loses the bounce

Over the past seven days, the daily chart for Floki Inu showed that it encountered declines on four days. However, the three days characterized by uptrends collectively yielded a higher cumulative value than the losses it incurred.

Specifically, it recorded increases of over 11%, 13%, and 6%, respectively. The most substantial decline within this period was slightly above 8%. 

Source: TradingView

As of this writing, the token was currently trading with a decline of more than 1%. Nevertheless, akin to Dogecoin, it maintained a bullish trend. The Relative Strength Index (RSI) at the time of writing was above 60%, indicating a strong bullish momentum.

How Dogecoin and Floki Inu ranks in market capitalization

According to CoinMarketCap data, Floki has exhibited more frequent price uptrends compared to Dogecoin in the last seven days.

Specifically, Floki recorded an increase of over 17%, while Dogecoin saw a slightly lower uptrend of over 15%.

However, it’s noteworthy that despite these percentage gains, Dogecoin holds a higher rank in market capitalization compared to Floki and other meme tokens. 

As of this writing, Dogecoin’s market capitalization was around $13.8 billion, while Floki’s was around $375 million. 

Read Dogecoin (DOGE) Price Prediction 2023-24

Given the current price trend, there is potential for DOGE to conclude the year with a higher price range.

In contrast, Floki may not experience a significant difference in its year-end valuation.