DeFi and BRC 20 token FLOKI has experienced significant growth, outperforming meme coins such as Pepe Coin, Dogecoin, Shiba Inu, Bonk Inu, and Wif. The Ethereum and Binance Smart Chain-based meme coin has entered the top 60 biggest cryptocurrencies by market cap, with a recent seven-day gain of over 200% and a 30-day gain of nearly 600%.

Meme coins have dominated the top gainers in 2023, outperforming altcoins with utility that are riding Bitcoin's coattails. This trend of "degen" (degenerate) investing has proven lucrative for many crypto traders who follow the herd and strategically accumulate and reduce exposure. FLOKI's success highlights the continued popularity and potential of meme coins in the current bull market.