FLOKI lost momentum after the Musk-induced rally. More than 270 million Shiba Inu tokens were leaked from cryptocurrency exchanges in the past 24 hours. The meme coin market remained stable over the past 24 hours.
The digital asset plunged again on Thursday, with Bitcoin dropping more than 2.5% a day earlier to $108,200.
Meanwhile, the memecoin market traded flat on Tuesday.
The market capitalization of meme coins still exceeded $60 billion.
FLOKI sinks after Musk-led rise
Tesla CEO Elon Musk stirred up the cryptocurrency market on Monday when he shared a post announcing that his pet Shiba dog Floki will be the new Secretary X.
Floki is back at work as 𝕏 CEO! pic.twitter.com/Zu29Dos24r
— Elon Musk (@elonmusk) October 20, 2025
FLOKI, the meme cryptocurrency that shares its name with the famous dog, turned bullish almost immediately after the post.
The altcoin rose more than 30% as the crypto community took notice of the “Floki is back” part.
However, the excitement didn’t last long.
FLOKI fell more than 17% on the 24-hour chart after plummeting from an intraday low of $0.0000883 to $0.00007295.
The rapid price movements confirm how volatile assets can be, especially those sensitive to social media buzz.
FLOKI is trading at $0.00007400 and faded trading volume suggests further price decline.
Additionally, widespread market weakness is weighing on FLOKI’s results.
The outflow of Shiba Inu is proof of investors’ trust
While FLOKI dominated the price charts, Shiba Inu (SHIB) was in the spotlight for a different reason.
The second-largest cryptocurrency recorded over 270 million exchange outflows in the past 24 hours, according to data from CryptoQuant.
This indicator plummeted from approximately 675 million tokens to 468 million tokens in one day, reflecting the incredible SHIB accumulation.
Large amounts of asset withdrawals from exchanges indicate that holders are moving assets to private wallets for long-term holding.
This will lead to less selling pressure in the short term.
In other words, large investors seem confident in SHIB’s future performance.
The meme token is trading at $0.00001002 after falling over 2% the previous day.
SHIB has consolidated over the past 24 hours, and a recovery in trading volume suggests an impending reversal.
However, broader sentiment remains important in determining Shiba Inu price action.
Meme market overview
While the overall meme cryptocurrency market has stabilized to some extent, FLOKI and SHIB have gained attention.
According to CoinGecko data, the value of all thematic coins remains unchanged at over $62 billion.
Meme digital tokens have outperformed the entire digital currency industry.
The market capitalization of cryptocurrencies fell more than 2% in the past 24 hours to $3.71 trillion.
The stability confirmed the benign sentiment among meme tokens as the bear market roiled the broader market.
Is there a calm before the storm? Keep in mind that theme currencies often precede broad recoveries.
Meanwhile, analysts are predicting a bull market in the coming months, citing key indicators. Michael van de Poppe says:
I think the CPI will be very weak, and then the Fed will move toward a 50-75 bps rate cut toward the end of the year. We are at the beginning of an altcoin bull market, with Bitcoin heading toward $1 million.
Nevertheless, the current environment surrounding virtual currencies is dominated by volatility, so caution is required.
