In the last 24 hours, FLOKI price has experienced a 14.40% increase, reaching $0.00028 and currently outperforming its rivals, including Shiba Inu (SHIB), PEPE, and Dogwifhat (WIF) which also have seen gains respectively up to 0.53%, 3.10% and 5.79%.
This incredible performance of Floki is a result of many factors which included a massive $15 billion token burn that was done on-chain in the past month. This move has propelled FLOKI to hit a monthly of $0.0003119 on 28th, May 2024, thereby boosting it by about 40.74%.
Moreover, the token recently acquired several exchange listings thus expanding its reach and increasing its accessibility to more people including introducing a trading bot on Telegram.
Floki’s success can be seen in its recent price performance. However; it has also achieved another significant milestone in terms of Total Value Locked (TVL), becoming the first meme coin to record more than $820 million this year. While Shiba Inu’s DeFi TVL remains just at $2.45 million despite its innovative efforts through Shibarium Network.
As the meme coin competition becomes intense, Dogecoin (DOGE) still holds its position as the largest meme coin by market capitalization. At the same time, Shiba Inu and PEPE are ranked second and third largest assets respectively.
However, with a decreasing trading volume and a circulating supply of 96.94% of its max supply, FLOKI currently holds the #44 spot in the market cap ranking according to CoinMarketcap, boasting a substantial $2.71 billion valuation.
