The crypto market has been moving very lackadaisically since the beginning of November. The prices have been stuck as the traders are in risk-off mode. In such a lethargic market, there are three tokens that are trending in the United States. In this article, we’ll consider Elon Musk-related memecoin, FLOKI, Cosmos-built KAVA, and Lombard Financial Protocol’s token BARD.
FLOKI crashes hard to $0.00005
FLOKI is a memecoin that was initiated by the Shiba Inu community, and it is named after Elon Musk’s pet, which belongs to the Shiba Inu breed. The token is the utility token of the Shiba Inu network.
During the past week, FLOKI has been crashing badly. From registering a price close to $0.00007, the memecoin crashed to $0.000058. The token was last seen above the $0.00007 level almost a couple of weeks ago when Elon Musk posted a video of him playing with his pet dog, ‘Floki’. According to a prominent media outlet, “FLOKI jumped from a low of $0.00006572 to $0.00008469 following the post, marking a 28.8% price increase. The token later corrected to $0.00007998 as trading volumes normalized.”
However, as the memecoin tried to initiate a bull run, the token was able to clear the resistance level at $0.00006 before crashing once again.
Kava emerges out of red zone but submerges again
Kava is a layer-1 blockchain that integrates the speed and interoperability of Cosmos while providing the power of an ETH developer. Built on Cosmos, it uses a Tendermint-based proof-of-stake (POS) consensus mechanism to ensure the integrity of the network. With this mechanism, validators stake the required amount on the blockchain to be selected for validating transactions. However, if the validators do not comply with the requirements, then the collateral will be lost.
On the weekly chart, KAVA’s chart has been mostly red. The token just emerged above the $0.14 level for just a second during the past week, before crashing once again. KAVA is currently priced at $0.1118 after losing about 20% during the past week.
Bard closes in on monthly high
BARD is the native utility + governance token of the Lombard Finance protocol. Like all other cryptocurrencies, BARD has also been in the red zone, as shown in the chart above.
Currently priced at $0.73, the token has lost 10% during the past 30 days. If the bulls keep pushing hard, the token will once again rise above its monthly high of $0.8
