• Dogecoin and Floki make a 24-hour decline, but race for dominance as both assets are expected to surge by 40 percent. 

• Dogecoin currently has a higher market cap than Floki but has less cumulative weekly uptrend than the latter. 

The battle for dominance between two renowned meme coins – Dogecoin (DOGE) and Floki Inu has reached a different height following reported external factors that have forced most of the leading assets to flip from bullish to bearish. The current price action of Dogecoin is disappointing, as the biggest meme coin in the market recorded a 3% decline in the last 24 hours.

Its bearish score is currently sitting at 36/100 but has made a price gain of 8% in the last seven days. Within this past week, there have been two instances of daily price surges surpassing 6 percent. On December 8, the meme coin staged a daily surge of 6.24%, pushing the price to $0.10. As of press time, Dogecoin had suffered a marginal fall to trade at $0.095531. Before this market behavior, the asset was showing signs of a bullish trend as its Relative Strength Index (RSI) read above 68. 

Floki Inu on the other hand is currently down by 1.36% and trading at $0.000038. This meme coin is also showing bearish signs with a score of 37/100. Its price surge in the last seven days is also negative with a 0.74% fall. Based on its weekly chart, this asset encountered four declines in four days. Interestingly, the three days of uptrend had a higher yield offsetting the cumulative four-day losses. The three-day uptrends recorded 11 percent, 13 percent, and 6 percent respectively. The highest decline within the week was 8 percent. The Relative Strength Index (RSI) had a bullish reading of 60 percent as of press time. 

Analysts Make Dogecoin and Floki Prediction

Compared to Dogecoin, Floki has had a better performance with more frequent price uptrends despite the actual reading showing otherwise. Floki had a cumulative increase of 17 percent, against the 15 percent cumulative increase of Dogecoin. Dogecoin, however, has a higher market capitalization of $13,608,417,246 against the $359,737,828 market cap of Floki. 

Analyst Ali Martinez believes that Dogecoin has the potential to surge by 40 percent after crossing a key resistance level. A careful analysis shows that the asset is still above that level despite the 24-hour decline. It is reported that investors accumulated billions of Doge at $0.095, and once this support is sustained, the asset can surge to $0.14. 

Dogecoin has successfully cleared all major resistance levels! With the $0.095 support proving strong – thanks to 63,280 addresses buying 3.2 billion $DOGE – the path looks set for an upward journey. If this support remains firm, we could see #DOGE aiming for $0.14 next.

Similarly, a pseudonymous crypto analyst identified as CryptoKale has predicted a 40 percent surge for Floki. The analyst compared the asset’s pullback to that of BONK.

As we start to see a bit more action across DOGE and meme coins, I wouldn’t sleep on $FLOKI.The retrace after last night’s retest reminds me of what we saw when BONK retested its ATH a couple of weeks ago. There was a brief pullback/accumulation period before a move to price discovery. I think we’ll see something similar here.

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