- FLOKI lost momentum after a Musk-fueled rally.
- More than 270 million Shiba Inu tokens left crypto exchanges in the past 24 hours.
- The meme coin market remained relatively stable over the last 24 hours.
Digital assets fell again on Thursday as Bitcoin dropped more than 2.5% over the past day to $108,200.
The meme coin sector, however, managed to trade mostly flat on Tuesday.
Total market capitalization for meme coins stayed above the $60 billion mark.
FLOKI tumbles after Musk-driven rally
Tesla CEO Elon Musk stirred the crypto market on Monday when he shared a post about his Shiba Inu pet, Floki, returning as the head of X.
Flōki is back on the job as 𝕏 CEO! pic.twitter.com/Zu29Dos24r
— Elon Musk (@elonmusk) October 20, 2025
Meme cryptocurrency FLOKI, named after the well-known dog, turned bullish shortly after the post.
The altcoin surged more than 30% as the crypto community reacted to the “Floki is back” moment.
But the hype was short-lived.
FLOKI lost over 17% on the 24-hour chart, falling from an intraday high of $0.0000883 to a low of $0.00007295.
The sharp price swing highlighted how volatile assets tied to social media chatter can be.
FLOKI was trading around $0.00007400, and declining traded volume suggested further downside pressure.
Broader market weakness also weighed on FLOKI’s performance.
Shiba Inu outflows signal investor confidence
While FLOKI dominated price headlines, Shiba Inu (SHIB) drew attention for different reasons.
Data from CryptoQuant showed the token recorded more than 270 million in exchange outflows within the last 24 hours.
The metric fell from roughly 675 million tokens to about 468 million in a single day, reflecting notable SHIB accumulation.
Large-scale withdrawals from exchanges typically indicate holders are moving assets into private wallets for long-term storage.
That reduces near-term selling pressure.
In other words, large holders appear confident in SHIB’s future prospects.
The meme token traded around $0.00001002 after a decline of more than 2% over the past day.
SHIB consolidated over the last 24 hours, and recovering trading volume hinted at a possible reversal ahead.
Still, broader market sentiment remains a key determinant of Shiba Inu’s price action.
Meme market overview
FLOKI and SHIB stood out as the overall meme coin market held up relatively well.
CoinGecko data showed the combined value of meme-themed tokens remained above $62 billion.
Meme tokens outperformed the broader crypto industry in recent trading sessions.
Total crypto market capitalization fell more than 2% in the last 24 hours to $3.71 trillion.
The relative stability among meme tokens reflects mild bullish sentiment in that segment, even as broader markets were shaken by bearish pressure.
Could this calm be the calm before a storm? It’s worth noting meme-themed coins have sometimes led broader recoveries.
Analysts have suggested upside in the coming months, citing key macro indicators. Michael van de Poppe commented:
I think we’ll see very soft CPI prints and then a 50–75 bps rate cut from the Fed by year-end. We’re at the start of an altcoin rise, and Bitcoin is heading toward $1 million.
Nonetheless, the current crypto landscape calls for caution, as volatility remains a dominant factor.