A wider rebound in the digital currency ecosystem is accompanied by a meteoric rise in the meme coin ecosystem. In only one day, the meme coin market surged by around 2.39% to $64,365,653,712. Floki (FLOKI) is leading the tokens driving this combined market increase.
Overnight, the token’s value increased by almost 15%, and it is currently trading for $0.0002776. The FLOKI momentum is significantly surpassing those of its main competitors, such as Dogwifhat (WIF), PEPE, and Shiba Inu (SHIB). PEPE and WIF have increased by 2.42% and 6.44%, to $0.00001525 and $3.46, respectively, while SHIB has gained 1.56% to $0.00002522.
The basics of each of these meme currencies affect how well they function overall. The enormous 15 billion token burn that FLOKI carried out on-chain in the previous month has propelled the cryptocurrency into a recent, tremendous surge. With a 40.74% increase, FLOKI was able to retetest a monthly high of $0.0003119 because to this burning.
Aside from this, FLOKI has expanded its reach significantly over the last few weeks thanks to a number of exchange listings. To improve accessibility, a trading bot has been launched on Telegram in addition to this.
The way FLOKI has performed over the last few weeks has distinguished the token in more unique ways. The digital currency is now the first meme coin to record more than $820 million this year because to a spike in its Total Value Locked (TVL).
Shiba Inu has demonstrated inventiveness in novel ways via the Shibarium Network. Nevertheless, according to statistics from DeFiLlama, despite its best efforts, its DeFi TVL is only estimated to be worth $2.45 million.
Dogecoin (DOGE) continues to hold its position as the top cryptocurrency by market capitalization despite the competition from meme coins expanding quickly. The next two biggest assets are Shiba Inu and PEPE, with WIF and FLOKI completing the top five.
