Floki Inu Marks New Milestone, Gets A Key Acknowledgment From CoinMarketCap

Floki Inu FLOKI/USD made yet another step towards joining the cryptocurrency cool kids club after receiving recognition from CoinMarketCap — the world's top website in the cryptocurrency space for digital currency prices.

What Happened: Floki Inu's team announced on Friday that the memecoin's market capitalization is now verified on CoinMarketCap. In the announcement, the CMC team attributes the decision to the token's developers recently announcing that they plan to move its governance to a decentralized autonomous organization (DAO) system.

See Also: This Coin Named After Elon Musk's Pet 'Floki' Is Up Over 1000% Today Amid Dogecoin's Rise

A CoinMarketCap representative declined to comment on Floki Inu's market cap verification when contacted by Benzinga. The firm's spokesperson stated that the company does not provide any statements concerning the approval and verification of specific assets.

Floki Inu's team promises that this development is "only the beginning" and that there will be "a lot more to come" for the fans of this memecoin after the transition to a DAO governance model is complete.