FLOKI Coin Price: Simon’s Cat Airdrop Gives Investors a New Boost – What’s Next?

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Joel Frank

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Joel Frank

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology…

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FLOKI Coin Price: Simon’s Cat Airdrop Gives Investors a New Boost
FLOKI Coin Price: Simon’s Cat Airdrop Gives Investors a New Boost / Source: Cryptonews

Floki Inu meme coin investors have received a new boost, benefitting from a major airdrop of a fun, viral new meme coin called Simon’s Cat (CAT) into the Binance accounts, but this has failed to lift the FLOKI coin price.

The FLOKI coin price was last changing hands around $0.0001230, down just under 4% on the day per TradingView.

FLOKI holders on Binance recently received a substantially CAT meme coin airdrop.

But Wednesday’s losses leave the FLOKI coin price only around 10% above its recent lows near $0.00011, which isn’t much for a meme coin like Floki.

Conversely, the FLOKI coin price is down around 65% from earlier yearly highs.

And things could get worse for the FLOKI coin price.

That’s because FLOKI has repeatedly rejected resistance in the form of its 50DMA in recent weeks.

FLOKI Coin Price: Simon’s Cat Airdrop Gives Investors a New Boost

That suggests the bears are in control of this market.

A retest of recent lows under $0.00010 is on the cards.

With the Floki coin price outlook downbeat, its no surprise that investors are looking at other meme coins.

Floki Coin Price Bearish – Could This Alternative Be Better?

Amid a bearish bias for the FLOKI coin price, a new meme coin project called Shiba Shootout (SHIBASHOOT) is receiving a lot of attention.

Shiba Shootout is a Wild West-themed play-to-earn (P2E) game that has already launched on Google Play and the Apple App Store.

To power its ongoing development and marketing drive, Shiba Shootout is conducting an ICO of its native SHIBASHOOT token.

And the ICO has been a huge success, raising over $1.1 million in early investment.

The fact that investors are rushing to secure SHIBASHOOT is no surprise given that dozens of analysts and crypto influencers have come out to predict big things for the token.

Popular presale analyst Jacob Crypto Bury thinks the coin has 10x potential in a recent YouTube video.

35% of the SHIBASHOOT token supply has been allocated for the ICO.

A further 20%, meanwhile, has been reserved for presale investor staking rewards.

That means new meme coin project SHIBASHOOT is not only one of the most promising P2E games right now, but it is also a passive income gem.

Per the project’s official website, presale investors can stake their tokens for a yield of around 858% APY.

At that staggering rate, a presale investor could double their SHIBASHOOT bag in just a few weeks.

Visit Shiba Shootout Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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