FLOKI Jumps 30%, Enters Top 100, Joins Most Searched Coins on Binance: Here’s Why

FLOKI Jumps 30%, Enters Top 100, Joins Most Searched Coins on Binance: Here’s Why

Time Stamp: October 27, 2023 5:40 AM
Source Node: 2957345

Floki Inu (FLOKI) is today’s best-performing altcoin, as its price jumped 30% amid a boosted search trend on Binance.

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Floki Inu unveiled on X that it made it back to the top 100 coins by market capitalization. This feat came following the 30% surge in price to $0.00004012. Overnight, the trading volume of FLOKI also soared 101% to $346,337,681 as market capitalization jumped 26% to $380,541,869.

Why is FLOKI on Rampage?

The growth of FLOKI stems from the optimism in its ecosystem following the announcement of its latest offshoot, TokenFi. Floki Inu introduced TokenFi as a tokenization platform billed to compete in the industry projected to top $16 trillion in valuation by 2030.

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Considering the observable growth, the big plans from Floki Inu appeased members of its community, who went on a buying spree, pushing the token’s price to its highest level since May. 

At the time of the team’s disclosure, FLOKI ranked as the 97th biggest crypto asset. However, at press time, the altcoin’s resurgence now pegs it as the 89th largest token atop a 115% growth in the past week.

With this upsurge, FLOKI now ranks higher than prominent altcoins like SUI, Terra Classic (LUNC), and DASH.

The sentiment surrounding TokenFi’s launch and the big reveal about its staking program boosted its search outlook on Binance. This search volume, which places it as the fourth most searched crypto, is in tandem with the overall trading volume, suggesting increased interest among investors.

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Significance of TokenFi

The launch of TokenFi is pivotal to the push by Floki Inu to maintain relevance in the Web3 ecosystem. According to the Floki team, users can earn TOKEN from staking their FLOKI shortly after TOKEN starts trading.

This way, it can compete with Shiba Inu, which launched Shibarium in August, and BabyDoge, which unveiled its Play-to-Earn game in March.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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