Post By: CryptosHeadlines.com
FLOKI Inu has been performing exceptionally well, with $54.4 million worth of tokens being staked. This success indicates its potential to outshine DOGE, SHIB, and PEPE in the cryptocurrency market.
FLOKI Inu, the meme coin, has been standing out and is expected to surpass other top meme coins like DOGE, SHIB, and PEPE during the current bull run.
On November 4, FLOKI shared exciting news on X (formerly Twitter) about its performance. Named after Elon Musk’s dog and a Viking character, Floki, it’s gaining momentum and is poised to outperform other tokens and coins.
In a tweet from the official FLOKI account, they mentioned that around $54.4 million worth of FLOKI tokens have been locked in the Floki staking program.
This staking program, launched on October 27, aims to reward dedicated FLOKI holders. Staking FLOKI tokens allows holders to earn FLOKI’s sister token, TokenFi, as a reward.
This program is notable because TokenFi, the sister token, is part of a tokenization platform targeting an industry projected to be worth $16 trillion by 2030. Interestingly, this update followed Floki DAO’s decision to reduce TokenFi’s transaction tax from 20% to 0.3%.
$54 Million Worth of FLOKI Tokens Locked in Staking Program
FLOKI Token recently introduced its FLOKI staking program, which quickly attracted a substantial $41.35 million in locked assets in just 48 hours. The program’s success has continued, and it has now amassed an impressive $54.4 million in $FLOKI tokens.
This growth was fueled by the demand for TOKEN, which followed listings on major exchanges, drawing attention from the cryptocurrency community.
The data about Floki, a rapidly growing multi-chain protocol, was shared on their official X (formerly Twitter) account, receiving a positive response from crypto traders and enthusiasts. Notably, there are 460,000 FLOKI holders, reaching approximately 3 billion people in the market.
Additionally, Floki Inu offers a three-month Annual Percentage Yield (APY) of 160% for those who lock their Token for four years.
FLOKI Price and Tax Reduction Impact
At the time of writing, the FLOKI price had increased by 6.05% and was trading at $0.00003176. The trading volume in the past 24 hours also saw a substantial 21.74% rise, reaching $45.33 million, and there were 9.51 trillion FLOKI tokens in circulation.
Furthermore, experts believe that the recent reduction in the tax rate for TokenFi’s transactions, from 20% to 0.3%, could have a significant influence on FLOKI’s price. This change may not only impact the crypto’s value but also make the FLOKI Staking Program more attractive to potential investors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.