Like many meme coins, Floki Inu has been trending downwards all month, leaving crypto degens looking for explosive gains stuck for options when it comes to their next investment.
In fact, at the time of writing, FLOKI sits 95% below its all-time high of $0.0003118 in November 2021.
From its yearly high of $0.00005427 seen in February 2023, Floki has slid 70% with the nearest major price support all the way down at $0.0000084.
While the project has continued to develop its ecosystem with initiatives like deploying FlokiFi Locker on the opBNB testnet, public sentiment may have turned against FLOKI.
With bearish price action still dominant throughout the market since February, there’s no telling how long the current price dip for Floki Inu may last as the token consolidates at this lower price point.
The new kid on the block El Hippo (HIPP)
El Hippo has hit the ground running, outpacing the majority of its meme coin predecessors by gaining a market cap of $4 million in the first month of launching.
El Hippo has already gained 109% in a month and amassed over 30,000 followers on social media, and thousands of token investors.
Things move fast in the meme coin world, and projects like HIPP that get such a strong start so early on have the potential to blow up just like FLOKI or PEPE did at the height of their popularity.
What is El Hippo
In short, El Hippo is a meme coin project aimed at fostering a grassroots community and meme culture.
One-percent of the total token supply is allocated to holders of the upcoming range of El Hippo NFTs – an interesting initiative that will incentivize users to hold digital assets minted by the project.
The project is fully transparent, with a locked smart contract that has been shared for the public to view and clear of risk.
Out of all the tokens, 92.1% are allocated to the liquidity pool for the sake of fairness.
How to buy El Hippo
Meme coin fans can buy El Hippo on Uniswap, Metamask and Trust Wallet. The El Hippo website has a handy guide on how to do that.
With a supply of 777 trillion, HIPP is currently valued at $0.000000004541 – many orders of magnitude cheaper than FLOKI.
With the team spending thousands of dollars on influencer initiatives, exchange listings and airdrops – including a recent $7,000 airdrop to El Hippo followers – there’s no telling how long prices will remain at their current level.