FLOKI reclaimed a $2 billion market cap, boosted by a $12 million purchase announcement from DWF Labs and new perpetual futures by Coinbase.
Despite short-term declines, FLOKI gained 420% in the last 30 days and nearly 600% over the past year, showcasing impressive resilience.
FLOKIâs play-to-earn metaverse, Valhalla, and extensive community marketing efforts have significantly contributed to its market resurgence.
FLOKI has recovered its $2 billion market capitalization. This milestone is an incredible achievement for the meme coin, which has had its ups and downs over the past year.
BREAKING: MEMECOIN $FLOKI (@RealFlokiInu) RECLAIMS $2 BILLION MARKET CAP pic.twitter.com/IvVra6WQO3
â DEGEN NEWS (@DegenerateNews) July 20, 2024
FLOKIâs recent spike can be attributed to several factors. The tokenâs value increased by 12% following DWF Labsâ announcement of plans to purchase $12 million in FLOKI tokens from the open market and treasury.
This action has increased investor trust and helped the tokenâs upward trend. Coinbase Futureâs issuance of FLOKI permanent futures has opened up more opportunities for traders to interact with the currency, boosting market activity.
Despite a recent 2% decrease in the last 24 hours, FLOKI has demonstrated resilience. The token has dropped by 9% in the last week and 25% in the last two weeks. However, these short-term movements have been covered by major gains of 420% in the previous 30 days.
FLOKIâs appeal is mostly due to its elaborate play-to-earn gaming metaverse, Valhalla. Valhalla is inspired by successful aspects of famous games like PokĂ©mon and Skyrim. The platform allows players to capture and battle creatures known as Vera, tend crops that may be sold as NFTs, and participate in a variety of other in-game activities.
FLOKIâs developers made use of the power of community and marketing to propel the token ahead. The cryptocurrency has launched numerous promotional efforts which have attracted the attention of the community, resulting in increasing interest in the token.
FLOKIâs reclaiming of a $2 billion market cap demonstrates the tokenâs resilience and enormous community support. As the cryptocurrency evolves and expands its ecosystem, it remains a popular player in the volatile world of digital assets.
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