Key Insights
- Memecoins Floki and Bonk have had their days throughout the last week with massive price increases.
- However, data shows that investors may be looking towards taking profits.
- These profit-taking investors seem to be running towards Yeti Ouro, a new player in the field.
- Yeti Ouro has already made a quarter million dollars in presale volume in less than three weeks.
- It shows massive investor interest amid the general market volatility.
Floki and Bonk have been two of the biggest gainers in the memecoin space over the last week. They have had double-digit gains over the last 24 hours and the last week, according to data from CoinMarketCap.
However, the frustrating thing about the memecoin market is that price rallies usually come in spurts.
It means they sometimes experience periods of high volatility and even price increases. That’s all before crashing back down again. The question now is: Can Floki and Bonk keep up with the insane growth of Yeti Ouro, a new player in the space?
Let’s find out.
Floki
Floki has turned up in terms of bullishness over the last week and is up by 1.5% and 17% on the daily and weekly timeframes.
While this is impressive enough, Floki’s future depends on whether it can keep up. According to data from IntoTheBlock, around 78% of the memecoin’s investors are currently in profit.
It also comes on the heels of a notable decline in transactions greater than $100,000.
In essence, while Floki appears green at the time of writing, it lacks the required on-chain activity to sustain things.
IntoTheBlock’s on-chain signals also show a bearish outlook for the memecoin. It indicates the bears might be ready to take over once again soon.
BONK
CoinMarketCap data shows that the Bulls are a lot more aggressive with Bonk than Floki.
Bonk is up by a staggering 11% over the last 24 hours and by 41% on the weekly timeframe.
While this is good enough for investors in the short term, rallies that burn the brightest tend to die just as quickly.
The memecoin has moved up so substantially that many investors will now begin considering taking a profit.
The cryptocurrency’s open interest, according to Coinglass, already shows a massive decline in open interest. Considering the sharpness of the cryptocurrency’s price action so far, this decline in open interest is unnatural.
As such, a massive sell-off is incoming, and it might help to be prepared.
Yeti Ouro
So, where are these investors going? When they dump major memecoins like Floki and Bonk, where do these investors put their money next? Data shows that these investors may now be running towards Yeti Ouro.
Yeti Ouro is a new addition to the memecoin space—but don’t let its age fool you. The cryptocurrency is in its presale phase at the time of writing but has already raked In an impressive $250,000 in presale volume.
This impressive feat was achieved In less than three weeks—right around the time the ongoing memecoin up-and-downs first started. The best part about this memecoin presale is that it currently sells for a pre-launch price of $0.012.
It even offers early investors a generous 10% discount, and millions of tokens have already been bought.
The Yeti Ouro official website shows that around 21 million $YETIO have been bought already. Aside from being a top investor choice, $YETIO is the native cryptocurrency of Yeti Go.
Yeti Go, in this case, is an upcoming P2E racing game that is currently in development. The game is currently being built using Unreal Engine 5 and FMOD.Â
That means it comes pre-made with stunning graphics and gameplay, where players attempt to push competitors off the tracks mid-race. All of this combined, is set to create massive opportunity for Yeti Ouro and its investors going forward.
Website: www.yetiouro.io
X (Formally Twitter): Â https://x.com/yetiouro
Telegram: https://t.me/yetiouroofficial
Discord https://discord.gg/YtUsEZ2ZrV
