In the new week, cryptocurrencies continue to change as market conditions change rapidly. However, the popularity of cryptocurrencies is based on many factors, of course, mainly based on their forever loyal fan base. This week, we have FLOKI, BabyDoge, MATIC, SHIB, and BTC, which have been gaining community attention as the hottest cryptocurrencies on the market.
Some of the factors that can influence cryptocurrency trends include market sentiment, use cases, government intervention, news events, and more. However, it should be understood that the top cryptocurrency trends on the market may change immediately, and new tokens may stand out on the stage.
Now, let's take a look at the most popular top tokens on the market this week.
Floki (Floki)
Floki (FLOKI), a self-proclaimed people's cryptocurrency, began its journey with a meme coin named after Elon Musk's favorite Shiba Inu puppy. However, FLOKI began to grow and currently plays a vital role in Floki's ecosystem as a utility token. Over time, the Floki ecosystem has expanded into various areas of decentralized finance, NFTs, and the Metaverse.
At the time of writing, FLOKI is currently priced at $0.00004331, which is soaring 9.55% in 24 hours. Furthermore, in CoinMarketCap's 7-day time frame, FLOKI remains the hottest cryptocurrency. This is not surprising! FLOKI is one of the tokens that experienced a triple-digit gain of 268.76% in 30 days.
FLOKI WANTS TO DIFFERENTIATE ITSELF FROM OTHER MEME COINS AND IS WORKING ON SOME FLAGSHIP PROJECTS TO PROVE ITS WORTH. The NFT game metaverse Valhalla is one of the projects on its 2023 roadmap.
In addition, Floki also plans to launch a set of decentralized financial products called "FlokiFi". Another project being introduced by the Floki ecosystem is FlokiPlaces. FlkiPlace is reportedly a user-facing NFT and commodity marketplace. As FLOKI continues to grow, Floki Vikings rally to support their crypto project.
All these projects of FLOKI are dedicated to making it one of the meme coins with practical value in its ecosystem.
Baby Doge (Baby Doge)
BabyDoge (BabyDoge) was created by fans of the DOGE meme community. As described on their website, Baby Doge is a deflationary token designed to become more scarce over time. One way Baby Doge does this is through its auto-burn feature, which will burn tokens on every on-chain transaction.
Memecoin was initially often seen as a joke by some communities, however, similar to FLOKI, BabyDoge also has utilities that benefit token holders. Another feature of the Baby Doge is its automatic reflections. This feature redistributes a 5% fee per transaction to token holders, so individuals can earn more coins by holding Baby Doge Coins in their wallets.
Currently, Baby Doge Coin is priced at $0.0000000003046, ranking second among the hottest cryptocurrencies. BabyDoge also witnessed gains of 3.20% and 153.80% in one day and 30 days. However, at the time of writing, it did drop 27.11% in a week.
BabyDoge has evolved over the course of its operations. Baby Doge also prides itself on this 5-second block speed. As a community-driven blockchain, BabyDoge has demonstrated its generosity through donations to society.
Polygon (MATIC)
Polygon (MATIC) is definitely one of the hottest cryptocurrencies out there, ranking third among CoinMarketCap's top cryptocurrencies. Billed as Ethereum's scaling platform, formerly known as the MATIC Network, Polygon allows developers to easily build scalable, user-friendly dApps with low transaction fees without compromising security.
Over the years, Polygon has been able to develop various projects and revolutionize the adoption of blockchain in various industries. Some notable collaborations are with Instagram, Stripe, Addidas Originals, and Prada. In addition, Polygon highlights that more than 37,000 dApps have used Polygon to scale their performance.
Polygon has been busy building different scaling solutions to make the ecosystem more beneficial for developers and individuals alike. Polygon PoS, zkEVM, Edge, Miden, Sipernets and Polygon Zero, as well as scaling solutions, are all tailored to meet specific needs.
MATIC is currently priced at $1.41 with a 1-day increase of 3.35% and a 30-day increase of 39.70%. Polygon recently announced that they will be laying off 100 employees and are still on the radar of the crypto community. Although Polygon has faced criticism from the community, supporters remain bullish on the network's future.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is also part of the popular cryptocurrency, ensuring itself in fourth place. SHIB started its journey with Memecoin, earning itself the call sign of "Dogecoin Killer", however, it has now branched off into different divisions such as Metaverse, NFTs, DAO, and many more.
Shiba Inu has come a long way as it continues to build to grow its ecosystem and is also among the top 20 cryptocurrencies based on its market cap. SHIB is currently quoted at $0.00001331, up 4.49% in 24 hours. SHIB also witnessed a 10.58% gain in 30 days, but a decline of 3.06%.
SHIB continues to experiment with development and recently launched its Layer 2 network, Shibarium. In addition, Shiba Inu explained their past projects SHIBA Eternity, SHIB: The Metaverse, and others in a recent blog, reflecting the future of SHIB to the public. Since Shiba Inu has come a long way in the last year, the community is still excited about the upcoming projects of this ecosystem.
Bitcoin (BTC)
There is no doubt why the king of cryptocurrencies (as some community members call it) is still on this list. While some claim that BTC may never break through $20,000, the first-ever cryptocurrency almost reached the $25,000 mark. Although BTC ranks fifth among the most popular cryptocurrencies, it continues to maintain the number one position according to its market capitalization.
Although BTC fell below the $24K mark earlier, the current price is $24,391.72, which skyrocketed 1.41% in 24 hours. Moreover, it rose 6.57% in 30 days with a market cap of $470,749,278,465. It can be seen that analysts regularly observe the price movement of BTC, and some believe that BTC may exceed $30,000 by March.
In the crypto industry, if you want to seize the next bull market opportunity, you have to have a quality circle so that everyone can huddle and stay insightful. If you are alone, at a loss, and find that there is no one, it is actually difficult to stick to it in this industry.
If you want to huddle for warmth, or have doubts, please consult me and pay attention to financial qiangzi.
Thanks for reading,