The world of memecoins has seen a surge in new players like Notcoin (NOT) and Dogwifhat (WIF) in recent months, capturing the attention of speculative investors seeking to diversify their portfolios with highly volatile assets. Despite this influx of new entrants, established memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI) have maintained their prominence in the market.
At press time, data from TradingView indicated that FLOKI has been one of the standout performers among cryptocurrencies, boasting a nearly 210% increase year-to-date. For comparison, DOGE and SHIB have risen by 9.45% and 23.70%, respectively, while the newcomer BRETT has climbed by 32% in the same period. However, PEPE has outshone them all with an astounding 410% surge.
FLOKI Among Top Memecoins for Holder Profitability
FLOKI's strong price performance this year has placed the majority of its holders in a profitable position. According to data from IntoTheBlock, as of August 15, FLOKI ranked second among memecoins in terms of profitability, with 70% of its holders in the green. This compares to 72.75% of Dogecoin holders who were in profit at a trading price of $0.1034.
Other memecoins also showed varying degrees of profitability, with 61.5% of Mog Coin (MOG) holders and 56.06% of PEPE holders seeing positive returns. Shiba Inu (SHIB), the second-largest memecoin by market capitalization, had less than half of its holders (46.3%) in profit.
Floki Inu’s Strategic Partnership with Nottingham Forest FC
This week, Floki Inu's ecosystem reached a new milestone by announcing its official partnership with Nottingham Forest FC for the 2024/2025 season. The partnership, revealed in a post on X (formerly Twitter), positions FLOKI as the official cryptocurrency partner of the English football club.
The collaboration aims to boost FLOKI’s visibility among mainstream audiences, with the altcoin’s branding set to appear during the club’s matches.
"Floki's partnership with Nottingham Forest is a strategic move to enhance our visibility and credibility, attracting new users to our ecosystem,"
Said a spokesperson for Floki Inu. This collaboration aligns with the altcoin’s broader strategy of associating its brand with innovation and growth, solidifying its presence in the fast-evolving and competitive memecoin niche.
Floki Inu has been proactive in building utility for the FLOKI token and establishing real-world use cases. In November 2022, Floki Inu announced the development of Valhalla, a 3D metaverse NFT game built on the Optimism Goerli testnet. This Viking-themed game offers a unique blend of traditional gaming and blockchain technology, allowing players to trade, battle, and collect assets that can be monetized through decentralized finance mechanisms.
FLOKI’s Price Outlook
Despite these milestones, FLOKI's partnership with Nottingham Forest did not immediately translate into a price boost in the spot market. The memecoin experienced a dip along with other cryptocurrencies during midweek trading. FLOKI's price fell from $0.00012 to $0.000113 on Thursday but later recovered to $0.000117. However, the sustained sell-off pushed FLOKI to an intraday low of $0.0001105.
Over the past 30 days, FLOKI has lost 37.45% of its value, a downtrend that its holders are eager to see reversed. The recent developments in the Floki Inu ecosystem, including the partnership with Nottingham Forest, underscore the project’s ambitions to expand beyond the memecoin space and into decentralized finance (DeFi) and game finance (GameFi).
