Journalist
Posted:
Bitcoin continued to trade below the round-number $90k. The local resistance at $94k had been assailed twice in December, and Bitcoin [BTC] bulls were met with rejection on both occasions.
This translated to market-wide bearishness. The Crypto Fear and Greed Index was at 16 to reflect extreme fear conditions.
The memecoin market has suffered in 2025, and its mascot Dogecoin [DOGE] was down 57.64% from the year’s high.
FLOKI and dogwifhat were among the popular memecoins, and their comparison was interesting because their market capitalizations were $400.3 million and $369.6 million, respectively.
Which coin has a better chance of outperforming the other in the next cycle?
WIF vs. FLOKI- Whales vs. network activity
In a recent report, AMBCrypto observed an interesting angle to the dogwifhat [WIF] vs Floki [FLOKI] debate.
For comparison, on-chain metrics showed big spot orders from whales for WIF. Meanwhile, FLOKI’s supply distribution showed selling pressure from whales.
This gave WIF the advantage in terms of whale accumulation. Another factor sets the memecoins apart as well.
Source: Santiment
Using Santiment data, the daily active addresses for each token were measured. The FLOKI activity was much higher than WIF’s, and consistently so.
The WIF vs. FLOKI face-off in terms of active addresses was no contest — FLOKI wins hands down.
The Weighted Sentiment, which accounts for social media engagement to assess sentiment, showed the WIF engagement (white) was predominantly bearish.
On the other hand, FLOKI saw bouts of bullish engagement and online hype.
FLOKI’s bearish strength
Source: WIF/USDT on TradingView
While this seems to give FLOKI an advantage in the WIF vs. FLOKI battle, price action must be accounted for as well.
The 1-day chart of WIF showed a bearish trend and structure, but the long-term support at $0.304 has been defended in recent weeks.
Source: FLOKI/USDT on TradingView
In contrast, FLOKI dropped below a key long-term support level at $0.000045. The weekly close below this level was a sign of capitulation from buyers.
More downside is likely for both memecoins, but FLOKI could suffer more.
Final Thoughts
- The on-chain metrics showed that WIF has whale buyers, but FLOKI dominates in terms of active addresses.
- Both memecoins were facing severe drawdown this year, but FLOKI’s situation looked worse after it lost a key support it had defended twice in 2025.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion