FLOKI Emerges as the Most Traded Memecoin, Outshining DOGE and SHIBA

Oct 25, 2023 | Analysis, News




FLOKI Emerges as the Most Traded Memecoin, Outshining DOGE and SHIBA

In a recent turn of events, FLOKI has carved out a prominent place for itself as the most traded memecoin globally, surpassing renowned competitors such as PEPE, DOGE, and SHIBA.

FLOKI, the cryptocurrency that draws inspiration from Elon Musk’s pet dog, recently achieved a significant milestone by hitting $200 million in daily spot trading volume across all major exchanges. The network celebrated this achievement with a tweet from its official X/Twitter account, proudly showcasing its victory over rivals.

Since its introduction to the crypto landscape in July 2021, FLOKI has steadily garnered international attention. The coin’s initial exposure stemmed from its unique connection to Musk’s pet dog, which instantly resonated with the cryptocurrency community.

In a recent tweet from Floki, it was revealed that Dogecoin is the closest competitor to FLOKI in terms of daily spot trading volume, boasting a substantial $184 million. However, the gap between FLOKI and its rivals widens significantly from this point onward. Shiba Inu, a formidable player in the memecoin arena, lags behind with a daily spot trading volume of $103 million. Likewise, Pepe records a daily spot trading volume of $88 million.

While the trading volumes of these memecoins are undoubtedly impressive, they pale in comparison to FLOKI’s latest accomplishment. This surge in FLOKI’s trading volume can be primarily attributed to its ongoing developments and progress in the crypto space.

One of the pivotal factors behind FLOKI’s growing popularity is its announcement of a staking feature for a new utility token. Although the new token remains unnamed, it will be powered by staking FLOKI. The project has opted not to pursue fundraising or pre-sales for the upcoming token, with a significant portion of its supply to be accessible through FLOKI.

Users will have the opportunity to earn the token by staking FLOKI for periods ranging from 3 months to 4 years. This innovative development will lock FLOKI tokens for an extended duration, artificially reducing its supply and consequently increasing its value within the market.

In addition to these exciting developments, the FLOKI network has expanded its team by bringing onboard new developers. This strategic move is aimed at ensuring that the network can actively pursue various ventures without any delays, marking an exciting chapter in the FLOKI project’s journey.

For latest Memecoins News updates follow Memecoinist and also follow us on different  social media platforms like TwitterFacebookInstagram and LinkedIn

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments