The crypto market has flip-flopped today as Bitcoin coils between $90K and $94K.
Meme coins are in the same boat. However, Flockerz, a new decentralized autonomous organization (DAO) meme coin, is flying ahead as its presale raise crosses $3.4 million.
Bitcoin Tests $90K Support
It seems Bitcoin has found its footing above $90k, with its price bouncing from $90.7K on Wednesday to $93.3K at the time of writing.
But it’s not out of the woods yet. BTC is trading at breakeven from yesterday, and has yet to break the $94.5K daily resistance which would confirm a bullish structure.
Bitcoin was a hair away from breaking the $100k barrier for the first time ever last week. However, profit-taking and leveraged position liquidations caused a violent sell-off in the following days.
Meme coins were especially affected, although they’ve also begun to find support.
Meme Coins Find Support, Trader Says DOGE to $1
Most meme coins are in the red this week but have started to show signs of life today.
The only exceptions are Dogecoin and Shiba Inu, which remain at marginal week-on-week premiums. DOGE is up 1.1% and SHIB 0.7%.
However, other big-name projects are at hefty discounts this week.
Three of the worst hit are Peanut the Squirrel, Popcat, and Floki, down 32%, 28%, and 10%, respectively.
But things look to be getting better. Many meme coins have started to bounce.
Brett has made the biggest gains with a 2.9% rise today, while Dogecoin is up 0.6% and Shiba Inu is up 1%.
This comes after weeks of staggering growth across the meme coin market, of which Dogecoin led the way. It remains up 174% this month.
And analysts think the next rally is approaching.
Tesla Model Doge noted that the Dogecoin price is trading inside a rising channel and expects a breakout and run towards $1 by early 2025.
Given that DOGE is the market leading meme coin, this would undoubtedly provide a tailwind for others to rise.
But one project which is soaring ahead even amidst the recent cool down is Flockerz. So could this be a frontrunner on the next rally?
Vote-to-Earn DAO Meme Coin Flockerz Shows Massive Demand
Flockerz is currently undergoing a presale, giving all investors an opportunity to buy at a fixed rate. Given the expectations that the next bully rally is around the corner, investors are jumping at this opportunity.
The project is undergoing a presale and its total raise is skyrocketing. It’s just hit $3.4 million.
What’s all the fuss about? Flockerz is building a Vote-to-Earn DAO that pays users to vote on all decisions relating to the project’s future.
This democratizes the project’s decision making process, ensuring that its future trajectory is one that the community agrees on.
Moreover, by paying DAO members with $FLOCK tokens, it strategically aligns the project’s success with user incentives.
Provided they make good decisions, then their $FLOCK tokens will be worth even more in the future.
Another benefit to Flockerz is staking. The feature is live and currently providing a whopping 655% APY. Most other meme coins don’t offer that.
It’s these innovative features driving a lot of attention to Flockerz. Even top analysts are taking note. For instance, ClayBro recently said it could give “huge gains.”
Meanwhile, Jacob Bury predicts Flockerz could 100x in price after launching on exchanges.
But prospective investors should act fast because the price will rise throughout the ICO.