The Floki Inu Upsurge Goes Beyond Memes

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By A D

Floki Inu (FLOKI) has witnessed a remarkable surge in its price, soaring over 20% in the past 24 hours. This price surge precedes the eagerly awaited launch of FLOKI’s staking program on October 27, 2023, adding to the excitement.

Floki Inu’s recent performance deserves a closer look. There has been a significant uptick in trading volume. To sustain this upward momentum, FLOKI must breach the crucial resistance level at $0.00003369. The excitement around the launch of the TokenFi token on October 27 and the subsequent Floki staking program has steered considerable interest in this meme coin.

Floki Inu Price Chart

A closer look at Floki Inu on a weekly chart reveals intriguing patterns. Not only did it break out, but it also back-tested the breakout of a descending wedge. This breakout and subsequent retest are clear signs of strength and bullish momentum. Moreover, the Relative Strength Index (RSI) on the weekly chart has surged above the 50 mark, indicating a bullish sentiment among investors.

Floki Inu is currently trading above its 55-day moving average, and a golden cross, a bullish signal, appears to be on the horizon. The MACD indicator has also moved above the zero line, commonly referred to as the “death line.”

Traders observe a weekly chart with a parallel channel, noticing the meme coin consistently touching its top and bottom boundaries. Continuing this trend could lead the meme coin to a major resistance level at the channel’s top, potentially yielding an 800% gain.

The Meme Coin Rally

But Floki Inu isn’t the only meme coin enjoying this rally; popular meme-themed coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepecoin (PEPE) have also experienced substantial gains.

Over the past week, meme coins have been on a tear, with Pepecoin (PEPE) leading the charge, surging an impressive 90%. Dogecoin (DOGE) is up 25%, and Shiba Inu (SHIB) has gained 17%. PEPE has been the star of the show, registering a 14% overnight gain, while DOGE saw a 10% surge in the last 24 hours.

Read: SHIB Updates: Panic or Opportunity?

The meme coin rally coincides with a broader crypto market surge, fueled by rumors of an SEC-approved Bitcoin ETF. This speculation has injected bullish sentiment into the crypto space. Furthermore, PEPE’s recent $6 million token burn has bolstered price gains by decreasing the available supply.

Upcoming Developments For Floki Inu

On October 26, Floki Inu made a splash by announcing the launch of its tokenization platform, TokenFi.

BlackRock, a financial behemoth with assets exceeding $10 trillion, has already termed the tokenization sector “the next evolution in markets.” This demonstrates the significant potential that Floki is targeting with TokenFi.

Accompanying the TokenFi platform is the highly anticipated $TOKEN. Floki Inu envisions TOKEN as a future leader in the global tokenization market. The trading of TOKEN is set to commence on Uniswap and Pancakeswap on October 27 at 3 pm UTC.

TokenFi (TOKEN) boasts 10 billion tokens, split equally between Binance Smart Chain (BSC) and Ethereum (ETH). With a circulating supply of $50,000 and a diluted market cap of $500,000, TokenFi aims to revolutionize the tokenization industry and enable access to real-world assets through its launchpad. Floki Inu will enhance liquidity and access by allocating 10% of its initial token supply to Liquidity Pools on Uniswap and PancakeSwap.

Floki Inu assures no sister token presale, with official updates exclusively through Floki’s communication channels.

WTT announces Floki Inu partnership on their official website
Image Source: WTT

Recent highlights include a partnership with World Table Tennis, potentially reaching 120 million viewers. Additionally, Floki Inu announced the launch of the FLOKI staking program, set to kick off on October 27. Staking enables passive income through token locking, eagerly anticipated by FLOKI enthusiasts.

The Floki Project and Its Expanding Universe

Floki Inu is not your typical cryptocurrency. Originally a meme coin inspired by Elon Musk’s dog, it has evolved into a comprehensive web 3 project. This project now spans various domains, including decentralized finance (DeFi), non-fungible tokens (NFTs), and the metaverse. Dubbed the “people’s crypto,” the Floki project has taken a meme coin and turned it into something more.

Floki Inu, currently the fourth largest project in the meme coin space, stands out for its multifaceted approach. Floki’s unique character is reflected in its three pillars: Meme Status, Utility, and Charitability. It’s not just about internet memes and price speculation; it’s a complete ecosystem driven by a passionate community.

Floki Inu’s utility token, FLOKI, serves as the cornerstone of its ecosystem. This community-managed project boasts over 700,000 followers on social media and over 475,000 holders, underlining its strong community support.

Floki Inu metaverse gaming
Valhalla Play-to-Earn Metaverse NFT gameplay.

Floki Inu has ventured into the world of metaverse gaming with its Floki Places, an exciting role-playing game reminiscent of Pokémon or Animal Crossing. Players can explore the metaverse world and engage in the battle arena mode, promising hours of entertainment.

FYI is Floki’s DeFi platform, featuring a unique Token Locker protocol. This protocol supports 14 different blockchains and is the only one to embrace the ERC-1155 multi-token standard. It’s already attracting substantial value, with nearly $20 million locked in its contracts.

Floki Inu operates on a decentralized autonomous organization (DAO) model, allowing FLOKI token holders to propose and vote on changes within the ecosystem. This active community engagement ensures that the project continues to evolve. Floki Inu offers more than just tokens; users can buy real items in the Floki Places marketplace and top off prepaid debit cards with FLOKI, enhancing its real-world utility.

FLOKI boasts a circulating supply of approximately 9.5 trillion tokens, equating to a market cap of nearly $250 million, ranks as the 120th largest cryptocurrency. It has witnessed significant price fluctuations due to its meme coin origins but continues to gain attention and maintain its presence in the crypto market.

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