FLOKI becomes the most traded memecoin over DOGE & SHIB

Floki recently announced its FLOKI token, becoming the most traded memecoin in the world. The latest stats show FLOKI surpassing PEPE, DOGE, and SHIBA tokens worldwide.

FLOKI recently achieved 200 million dollars in daily spot trading across all exchanges. The network released a tweet on its official X/Twitter account to inform the users.

The tweet accompanied a screenshot showing FLOKI surpassing its competitors. Ever since its release in July 2021, Floki has been garnering global attention. The coin was inspired by Elon Musk’s pet dog, giving it initial exposure among crypto enthusiasts.

Dogecoin is closely following the coin, according to the most recent tweet from Floki. The original memecoin has amassed a total of 184 million dollars in daily spot trading volume.

The gap between the competitors becomes significant from there on. Shiba Inu is trailing Floki and Doge with a daily spot trading volume of 103 million dollars. Similarly, Pepe also has a daily spot trading volume of 88 million dollars.

While the numbers are impressive, they fall short of Floki’s latest achievement. This surge in Floki’s trading volume has been primarily triggered by its ongoing progress. The network recently announced the development of a staking feature for a new utility token.

The new token is yet to be named, but it will also be fueled by staking FLOKI. No fundraising or pre-sale will be conducted for the upcoming token. Most of its supply will be made available through FLOKI.

Users can earn the token by staking FLOKI for a period of 3 months to 4 years. The development will lock FLOKI tokens for an extended period. It will artificially reduce FLOKI’s supply, increasing its value in the market.

Floki has hired new developers to work on the project. It will ensure that the network can focus on other ventures without delay.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button
Bitcoin (BTC) $ 66,320.77
Ethereum (ETH) $ 3,577.62
Tether (USDT) $ 0.999312
BNB (BNB) $ 607.62
Solana (SOL) $ 144.99
XRP (XRP) $ 0.483749
Dogecoin (DOGE) $ 0.137098
Cardano (ADA) $ 0.412091