The price of FLOKI has been bullish over the past few days following a strong recovery across the cryptocurrency market. However, FLOKI is gaining not only because of the broader market’s support but also from Elon Musk’s tease that his pet dog named “Floki” was the new CEO of Twitter.
FLOKI continues to pump after a 150% gain in one week
FLOKI has been one of the top gainers over the past week after a massive rally triggered by interest in the meme coin after a tweet from Tesla’s CEO. At the time of writing, FLOKI was trading at $0.0000597, according to data from CoinGecko.
Despite a 154% price gain over the past week, FLOKI is yet to show any signs of a price reversal. In the last 24 hours, FLOKI was still pumping, up by 14.1%. The token has traded between $.0000487 and $0.0000668, indicating mild volatility, with trading volumes of over $197 million over the past day.
The Relative Strength Index (RSI) is at 39, showing strong selling pressure. Therefore, there is a likelihood that the price could drop as sellers appear to be in control. The same bearish sentiment is also depicted in the movement of the MACD line.
Elon Musk triggers FLOKI’s pump
Elon Musk is behind the recent gains made by FLOKI. Musk recently tweeted a picture of his pet dog named “Floki” posing as the new CEO of Twitter. In the tweet, Musk said his pet was a better CEO than the previous one.
Musk has been looking for a new CEO for Twitter since losing an online poll. “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & server teams,” Musk said after the poll.
It is not the first time that FLOKI has recorded a significant pump this year. Last month, FLOKI’s price rallied nearly 100% after the Floki Inu DAO passed a governance proposal to burn $100M worth of tokens.
Why TAMA is the meme coin to watch
Meme coins tend to rally depending on the hype in the market, as seen with the recent rallies in most dog-themed coins after Musk’s tweet. However, TAMA is a meme token that has distinguished itself from other meme coins by having robust fundamentals that support its price gains.
In the last month, TAMA has been up by 20%. The Tamadoge ecosystem has been making since the release of the Super Doge game last month. The game has attracted notable interest from the crypto and gaming communities.
Super Doge was released after being in the beta testing phase for weeks. The game takes play-to-earn to the next level as the Tamadoge community has brought together the appeal of meme coins and Web3 gaming.
Super Doge is the first arcade game on the Tamadoge ecosystem, and TAMA tokens are the key needed to access the ecosystem. Players can purchase these coins on the platform. The use of TAMA in this game boosts the token’s utility, which means gains for the holders.
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