Pseudonymous trader Unipcs, better known as “Bonk Guy,” predicted a strong week for meme coins, with Floki FLOKI/USD being the most interesting.
What Happened: On Monday, Unipcs compared Floki’s chart against several other cryptocurrencies, including Tether, Bitcoin, Dogecoin DOGE/USD and Pepe PEPE/USD. He pointed out the meme coin’s strong performance against all of them.
In another tweet, the trader added that this should be an interesting week for meme coins, particularly Floki, Bonk BONK/USD, Dogwifhat WIF/USD and Pepe.
A third tweet by him advised traders to "simply long every major liquid meme coin." He includes Floki, Bonk, WIF, and Dogecoin in the list and sees Pepe and Shiba Inu (CRYPTO; SHIB) doing well too, even though he does not hold SHIB or PEPE.
Over the past 24 hours, most meme coins have spiked in value:
| Cryptocurrency | Price | Gains +/- |
| Dogecoin DOGE/USD | $0.162 | +2.2% |
| Shiba Inu SHIB/USD | $0.00002505 | +0.4% |
| Pepe PEPE/USD | $0.00001528 | +3.0% |
| Dogwifhat WIF/USD | $3.43 | +4.6% |
| Floki FLOKI/USD | $0.0002798 | +11.7% |
Why It Matters: The tweet from Unipcs comes at a time when the meme coin market is experiencing significant activity at a valuation of $66.9 billion. For instance, Bonk, a Solana-based meme coin, has seen a correction but analysts believe it could indicate more upside potential.
Additionally, the recent social media activity from "Roaring Kitty" has led to a surge in GameStop-themed meme coins, demonstrating the volatile nature of the meme coin market. Roaring Kitty's social post caused a 200% increase in the value of GameStop-themed crypto, showcasing the influence of social media on these digital assets.
Unipcs's insights into Floki and other meme coins could potentially influence trading strategies and market movements, making his observations particularly relevant for investors and traders in the cryptocurrency space.
What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: Roaring Kitty’s New Social Post Pushes GameStop-Themed Crypto By 200%, Kitty-Themed Coins Surge
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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