All three cryptocurrencies have a couple things in common that could position them to be bear market winners. Floki, in particular, could be worth paying extra attention to as this article will reveal.
Certainly more than one thing!
Community tokens tend to outperform other cryptocurrencies in a bear market. This effect was seen recently with the 600% rally experienced by Terra Classic (LUNC) in a bear market due to its community successfully pushing through a proposal to introduce onchain burns. This is due to the fact that while a bear market is a period of lull where there is practically nobody talking about most cryptocurrencies, community tokens have an army of people actively publicizing key development updates about them even in a bear market. This amplifies the effect of these updates, which help these cryptocurrencies witness more than average growth in a bear market.
Besides being strong community tokens, Floki (FLOKI), Siba Inu (SHIB), and Cardano (ADA) also have major short term catalysts planned for them that could generate renewed interests among cryptocurrency enthusiasts.
Floki’s FlokiFi Locker digital asset locker protocol is due to launch on mainnet this month. This is a much anticipated protocol for the project, and several major partners including some of the world’s biggest DEXs have been announced as partners.
Shiba Inu’s Shibarium L2 blockchain is also due to launch soon and the project’s developers have been teasing the community with updates related to the L2 chain.
Cardano’s Vasil hard fork is also due to happen this month. The hard fork will improve network capacity and lower transaction costs on the Cardano blockchain.
Cardano (ADA) and Shiba Inu (SHIB) are both large cap cryptocurrencies. Shib currently has a market of $7 billion while Cardano has a market cap of over $17 billion. Floki (FLOKI) has a much smaller market cap on the other hand – Floki’s market cap is a puny $100 million at the time of this writing. This means Floki needs to witness at least a 70x upside to have the same market cap as SHIB and at least a 170x upside to be at the same market cap as Cardano.
While there is no guarantee that Floki will get to that market cap, and this is not financial advice, Shiba Inu’s success and Cardano’s success as community tokens with utility show clearly that Floki is a cryptocurrency worth paying attention to!
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
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