Floki Inu Price Rose Over 61%; TokenFi Fueling the Surge?

Floki’s (FLOKI) price surged more than 61% over the past 7 trading sessions. However, in the past 24 hours, the trading volume and market capitalization of Floki rose more than 77% and 15.00%, respectively.

FLOKI/USDT price surged more than 7.54% intraday. The bears are more active, and its trading volume is $191,114,670 . Across all time formats, FLOKI showed a significant surge in market capitalization.

Floki Inu is ranked as the 18th most surged memecoin in the weekly time frame, and Real Smurf Cat leads the list with a rise of 563.77% in a week. As per Coinmarketcap, FLOKI is fourth in terms of market capitalization in the memecoin community.

The MACD and signal line are indicating a bullish momentum while the RSI has already entered the overbought territory. When writing, FLOKI/USDT was above 20, 50, 100 and 200 days EMAs. Trading volume highlights buying momentum.

Is the Launch of TokenFi Behind Floki Surge?

To “capitalize on the trillion-dollar tokenization industry,” the creators of the well-known memecoin FLOKI have introduced TokenFi, an asset tokenization platform.

TokenFi wants to dominate the tokenization market by streamlining asset and cryptocurrency tokenization procedures. With plans to launch in Q4 2023, the platform now has many items in advanced development on Testnet.

The team has promised to provide the website, roadmap, and further details shortly. To make TokenFi a success, the team stated, “We are working with some of the biggest names in the industry, especially from an institutional perspective.”

The statement introduced TOKEN, the native token with a total quantity of 10 Billion tokens on the Ethereum and BSC chains, without providing much information on TokenFi.

OverView: Memecoin Community

In the past few years, the popularity of memecoins has surged impressively. Over hundreds of memecoin have been registered in the crypto world in the past few years.

However, while there was a sudden surge in the price of Floki Inu and other memecoins, the entire memecoin market capitalization declined 1.42% in the past 24 hours and trading volume slipped 43.44%.

In terms of price, Doge Killer is worth $307.12 (when writing) the most valuable memecoin in the crypto market followed by MEME which was trading at $16.24 (when writing). Dogecoin is the 8th most valuable memecoin in terms of trading price and tops the category in terms of market capitalization.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.