Floki's New Token Rallies 10% To Outshine Dogecoin, Shiba Inu: 'More Than Just A Meme Coin'

Floki’s new venture, TokenFi TOKEN/USD, has seen a 10% increase in value over the past 24 hours outperforming top meme-based cryptocurrencies such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD.

What Happened: B Da Viking, core contributor at Floki took to X, "When many hear about FLOKI, they think ‘memecoin,’ like DOGE, SHIB, etc. Well, Floki is more than just a memecoin: it is a DeFi powerhouse amongst other things! One of Floki’s protocols, FlokiFi Locker, just hit a TVL (Total Value Locked) ATH (All-Time High) of $107 MILLION! That is no mean feat! This accomplishment is even more important because every successful FlokiFi Locker transaction buys and burns FLOKI tokens, which gives it utility and makes it deflationary."

At the time of writing, TOKEN was trading at $0.027. DOGE, while SHIB was up 4% and DOGE rose 5.16% in the last 24 hours.

FlokiFi Locker, a protocol within the Floki ecosystem, has implemented FLOKI as its primary utility token. It provides a service platform where users can lock their liquidity provider (LP) tokens, various fungible tokens, and even non-fungible tokens (NFTs).

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters:  Last week, a pseudonymous analyst Kaleo has also turned attention to another meme coin. The analyst said a possible bullish scenario for FLOKI should it successfully clear a diagonal resistance that hovers around $0.00004.

Kaleo noted, “Picked up a small bag of FLOKI as well. I want exposure to all of the dog coins, and think this one could get interesting if it breaks this high time frame resistance.” Currently, FLOKI is trading at $0.000032.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?