Floki Rallies 15% As Traders Expect It To Outperform Doge, Market Cap Surges By $2B In A Month

Floki FLOKI/USD is trading 15% higher on the heels of its Valhalla Bonfire Event.

The event celebrated the burning of 190.9 billion FLOKI tokens. In March, the Floki community burned over $55.26 million worth of FLOKI tokens due to strong utility demand.

Showcasing Floki’s ecosystem adoption, “Baby Trump has locked half a million dollars’ worth of BABYTRUMP memecoin on the BNB chain using Floki’s superior crypto locker protocol, FlokiFi Locker!”

Thank you to everyone who participated in the Valhalla Bonfire Event where we celebrated the burning of 190.9 billion $FLOKI tokens!

Over 200 unique entries were submitted during the 10 hour long event.

Congrats to the 50 winners who were selected randomly, your prizes will be… https://t.co/2vyzl9NsbK

— FLOKI (@RealFlokiInu) March 28, 2024

Binance revealed that Floki is one of the hottest meme coins on its exchange, just below Dogecoin and above Shiba Inu and Pepe.

Also Read: Why Is Floki Up 326% Over A Week? Analyst Says ‘Call It What You Want, But It Works’

Why It Matters: Over the past 24 hours, Floki ($786 million) closely trails Dogwifhat ($418.7 million) and Pepe ($700 million) in trading volume.

With a price rally of 15.7%, its monthly gains have soared to 433.8%, surpassing Pepe, Dogwifhat, Dogecoin and Shiba Inu.

Within a month, Floki's market capitalization surged from $535 million on Feb. 28, to $2.52 billion.

Renowned trader Unipics, also known as “Bonk Guy,” shared his purchase of Floki on Thursday, expressing optimism for "Floki to outperform $Doge on this move." He cites factors like a strong Dogecoin correlation, 23% supply staked/locked, deflationary tokenomics, and lower capitalization.

Crypto trader Kaleo alerts the community not to overlook Floki:

With $DOGE starting to break out and $BNB looking bullish af, make sure to not sleep on $FLOKI here https://t.co/7ak8GjbMlH pic.twitter.com/8jlQQsEnoT

— K A L E O (@CryptoKaleo) March 28, 2024

As meme coins continue to be a hot topic for the cryptocurrency community, the upcoming Bitcoin halving is expected to receive attention in April.

These topics are expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Floki Inu was launched in June 2021 by an anonymous group of developers. The project was inspired by Elon Musk and his pet dog, Floki

Read Next: ‘Golden Bull’ Floki’s 75% Single Day Rally Leaves Dogecoin, Shiba Inu Behind: ‘Casual 10x Incoming,’ Says Trader

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