Floki (FLOKI) is currently trading at $0.0002201, marking a 15.41% increase over the past day. Meanwhile, Pepe (PEPE) is being traded at 0.00001107, reflecting a 6.11% increase over the same period, according to Coinmarketcap data. The data aggregator indicates that savvy traders have been accumulating Floki and Pepe over the last 24 hours, suggesting a potential resurgence of the memecoin season.
Recently, memecoins have been recording very high trading volumes, particularly on decentralized exchanges. The overall value of the memecoin market reached $54.7 billion at the end of April, recovering from a plunge earlier that month.
Floki and Pepe whale trades
An hour ago, global digital asset market maker DWFLabs reportedly withdrew $394,000 worth of Floki from Binance in their first Floki transaction in over a year. Additionally, another crypto trader withdrew $4.2 million worth of Pepe from the same global crypto exchange, resulting in a profit of $292,000. The trader’s total profit from these Pepe trades amounted to an impressive $3.59 million.
While it’s unlikely that Floki will reach one cent due to its extremely high supply, the token has been consistently trending upwards. A realistic prediction is that Floki may reach at least 0.1 cents in the future, but there are no guarantees.
Pepe is another token aiming to capitalize on the popularity of meme coins like Dogecoin and Shiba Inu. Its creators have always aimed to establish it as one of the top meme coins. The token’s no-tax policy and honest admission of having no use cases have made it appealing to the cryptocurrency community.
The loser: Dogwifhat (WIF)
One of today’s biggest losers is the memecoin Dogwifhat (WIF), which is down almost 6% in the last 24 hours and trading for $2.92 at the time of writing. If it drops to $1.95 or less, but no less than $1.50, long-term traders might well consider buying it.
Dogwifhat was one of the hottest memecoins in December 2023, when Stratos launched a liquid fund holding WIF. At one point, WIF’s price increased more than 300 times, and this fund posted a return of 137% in Q1 of 2024, which is more than twice the overall market gain.
