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FLOKI’s explosive 40% surge propels it to the top 100 cryptocurrencies

FLOKI's explosive 40% surge propels it to the top 100 cryptocurrencies

A contender to the meme cryptocurrency throne and dog-themed token vying to become the next Dogecoin (DOGE) or Shiba Inu (SHIB), FLOKI (FLOKI) has indeed made significant progress recently, its price soaring nearly 40% and pushing the multi-chain token into the top 100 crypto assets by market capitalization.

As it happens, FLOKI has increased its price to highs not seen since February 2022, coinciding with the deployment of staking on the platform’s testnet, as well as a listing on Binance.US, the American branch of the crypto trading platform Binance, according to the information shared by the token’s team on April 23 and April 24.

At the same time, FLOKI’s market capitalization received an influx of nearly $110 million or 38.97%, having soared from $276.18 million to $383.80 million in just 24 hours (and growing), allowing FLOKI to enter the list of the top 100 digital assets by this indicator in the crypto industry, as per the latest CoinMarketCap data.

FLOKI’s position in the top 100 cryptocurrencies. Source: CoinMarketCap

Interestingly, the dog meme token reached its all-time high (ATH) in September 2021, when Tesla (NASDAQ: TSLA) and Twitter (NYSE: TWTR) CEO Elon Musk named his dog Floki, resulting in a FLOKI frenzy. More recently, the token soared 40% in February 2023 after Musk posted a series of images of the dog posing at the new CEO of Twitter.

FLOKI price analysis

At press time, FLOKI was trading at the price of $0.00003891, recording an increase of 34.82% in the last 24 hours, in addition to growing its value 2.94% across the previous week and gaining 9.72% on its monthly chart, as well as dramatically growing its daily trading volume, according to the data from April 25.

FLOKI 7-day price chart. Source: Finbold

As a reminder, FLOKI was one of Finbold’s top 5 cryptocurrencies under $0.10 to buy in March 2023, an investment that looks to be paying out. Whether the bullish momentum sticks will depend on further developments around the dog meme token, as well as the general atmosphere on the wider crypto and macroeconomic landscapes.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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