Floki Surges 16% In Bitcoin-Fueled Crypto Rally — Outshines Dogecoin, Shiba Inu Gains

Floki FLOKI/USD is up 16% in the last 24 hours, outperforming top two meme coins by market capitalization Dogecoin DOGE/USD and Shiba Inu SHIB/USD .

What Happened:  This rise in value appears to be due to a strong bounce back in the cryptocurrency market, largely driven by Bitcoin BTC/USD. 

The apex crypto crossed the crucial $30,000 resistance level for the second time this year, which has helped to reignite investor confidence.

Additionally, the cryptocurrency world has seen some major institutional buy-ins, further boosting investor sentiment. 

Investment giant BlackRock's application for a spot Bitcoin ETF has broken barriers, with Deutsche Bank soon to follow in applying for a digital asset licence. Meanwhile, Fidelity, Citadel, and Charles Schwab have launched a crypto exchange EDX, offering trading in four cryptocurrencies.

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Why It Matters: Another factor contributing to Floki’s recent success is the news that it has secured a new exchange listing. Floki Futures will be listed on WOO X.

Floki has also recently scored a new listing on Bitci, a top cryptocurrency exchange in Turkey with over five million registered customers.

Earlier this month, Floki said it is implementing a new strategic marketing partnership with Binance Pay. Customers who make purchases worth at least $1 from approved Binance Marketplace merchants will receive rewards.

Price Action: At the time of writing, FLOKI was trading at $0.00002703, according to Benzinga Pro.

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