Wednesday, 21 December 2022 12:05 PM
Company Update
LONDON, ENGLAND / ACCESSWIRE / December 21, 2022 / Let's face it, 2022 has been an awful year for almost all asset classes, even more so for riskier assets like crypto. The Russian invasion of Ukraine, inflation, monetary tightening by the feds, high energy prices and new COVID variants still emerging every other month have all played their part in bringing the world economy to its knees.
Some would argue that certain black swan events have temporarily crashed us to these lows, but by now we can surely say that crypto has been in a bear market since December 2021. Though it's not all grim and there actually is light at the end of the tunnel. If the past is any indication of future performance, bear markets tend to last for about a year, so 2023 will definitely be a better year for crypto.
Memecoins naturally tend to suffer much more than the blue chips during bear markets, but projects with solid foundations and strong communities always find their way back to rise from the ashes and reach new highs, as seen in the past with Dogecoin, which launched in 2014 and went through 3 bear markets, marking new all time highs during every bull run afterwards.
Floki New Year ($FlokiNY) is another interesting community-based project, having launched in the last days of December 2021 on Binance Smart Chain, the token had an impressive run from around a $5K market capitalization to above $7 million in just a few days, a staggering %140,000 growth. However, once the overall macro situation started to shift to the negative in early 2022, Bitcoin's value started to plummet and it dragged all altcoins with it.
After a year of following the general market trend, the token has started gaining some steam again in anticipation of the much-awaited new year. All signs lead to 2023 being a much better year than 2022 for stocks and crypto, as experts believe Bitcoin is massively oversold right now because of the overall macro situation, but things could change extremely quickly to the better with a positive announcement from the US Federal Reserve about the inflation rates or some good news from Ukraine.
December is definitely going to be a very exciting month for the Floki New Year community. The dev team behind the project has already set out a strategic marketing plan for the month with ads on prominent crypto websites, influencer collaborations and a few other surprises. A "biggest buy" competition is also taking place in the last week of December, with more than 50 BNB - worth $12,500 at the time of writing - in prizes up for grabs. The token is already listed on the highly regarded CoinMarketCap and is awaiting CoinGecko listing sometime within the next few weeks.
There are also plans to add utility to the project through staking, which will yield passive income to all holders that participate. But that's not all, the team has also conveniently rebranded the logo and website to cater for the Chinese New Year (Year of the Rabbit) as well which is taking place on the 22nd of January 2023, a move that will probably keep the buy pressure high after New Year's. At the time of writing, the token holds a stable floor of $250K market cap, which is around x30 away from the previous all time high.
With crypto investors looking forward to 2023, will the token welcoming the new year reach new all time highs? Only time can tell, but it should absolutely be on every investor's radar this month.
For more info about the project, you can visit their official website: https://www.flokinewyears.info/
Media details
Company name: Wills & Co.
Contact person name: Jack Wills
Company email address: [email protected]
City and country name: London, England
Website URL: https://www.flokinewyears.info/
SOURCE: Wills & Co