Floki Inu: Does Meme Coin Have Power To Re-Enter Top 100?
Floki Inu (FLOKI) entered the crypto landscape with a wave of enthusiasm, riding on the coattails of the meme coin trend that gained momentum through the success of Dogecoin. Its charismatic Shiba Inu mascot and an active community on social media platforms quickly attracted a dedicated following.
Floki Inu’s journey, however, has not been without its fair share of ups and downs.
As the crypto market is known for its volatility, the question arises: Can Floki Inu rally strong enough to regain its coveted spot among the top 100 cryptocurrencies?
Floki Inu Market Cap And Growth Analysis
Floki Inu (FLOKI), despite previously achieving a significant rally that propelled it into the top 100 cryptocurrencies by market capitalization, has recently lost its position among the elite. Currently, FLOKI holds the 121st spot with a market capitalization of $332,037,915.
Within the vast cryptocurrency market, Floki Inu (FLOKI) is currently priced at a modest $0.00003367, as per CoinGecko. Over the past 24 hours, the token experienced a slight 2.8% increase. However, it managed to tally a decent 8.8% over the past seven days. The coin is down 6.7% in the last two weeks.
Despite being introduced in 2021, Floki Inu has not achieved the same extraordinary level of success as renowned meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). However, it would be unjust to characterize FLOKI’s growth as disappointing. Since its launch, the token has experienced an impressive surge of 656.12%, illustrating its capacity for generating substantial returns.
Potential Catalysts For Floki Inu’s Re-entry To Top 100
A pivotal factor in Floki Inu’s quest to reclaim its position among the top 100 cryptocurrencies is the cultivation of a more robust and engaged community. By fostering active participation, encouraging community-driven initiatives, and maintaining transparency through regular updates on the project’s development, FLOKI can significantly enhance its appeal to investors and crypto enthusiasts.
Floki Inu also holds strong potential in the realm of non-fungible tokens (NFTs). Notably, the trade volume associated with FLOKI’s NFTs has achieved remarkable milestones, reaching millions of dollars.
Crypto total market inches up a bit at $1.12 trillion on the daily chart at TradingView.com
Related Reading: Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future
According to on-chain data, FLOKI’s total NFT volume surged to an impressive $16.25 million in April, illustrating the significant interest in non-fungible assets linked to the Floki Inu network.
To regain its standing, Floki Inu must prioritize the enhancement of its token’s utility and innovative capabilities. By actively developing real-world use cases and forging strategic partnerships with businesses and platforms, FLOKI can establish a more solid foundation for long-term growth. This focus on utility will not only attract more users but also contribute to the token’s broader adoption and increased market capitalization.
-Featured image from Science Photo Library
Source: Read Full Article