Floki Skyrockets to New ATH After Pivotal Breakthrough

Floki rockets to a new all-time high as a wave of positive fundamentals propels its ascent up the memecoin pecking order.

Floki on his ship calling on a horn as he arrives at a beutiful blue sky.
Created by Kornelija Poderskytฤ— from DailyCoin
  • Floki posted a strong 24-hour performance, leading the top 100 tokens.
  • The memecoin recorded a new all-time high off the back of this run.
  • Multiple fundamental developments drove the price pump.

Crypto markets rallied today, as $80 billion of inflows increased the total market cap over the last 24 hours, recording an 8-week high of $2.64 trillion.ย 

Sponsored

Memecoin Floki led the top 100 gainers, growing 30% over the past day. At the time of writing, it had formed a new all-time high of $0.0003424, fueled by several new fundamental developments.

Floki Soars to New Heights

Floki grew 30% over the past day to record a new all-time high of $0.0003424 on June 5, fueled by multiple fundamental breakthroughs for the project.

Floki daily chart in dollars showing a new ATH per Trading View
FLOKIUSDT daily chart on Trading View 

Floki opened the year priced at $0.00003610 and grew 770% to peak at $0.00031502 by March 14. Following a slump that found a local bottom at $0.00011022 on April 13, Floki began a new uptrend that culminated in smashing previous resistance experienced on March 14 and more recently on May 28 to form a new ATH of $0.0003424 on Wednesday.

Floki has posted a staggering 850% year-to-date gain, moving it into contention to take on dogwifhat for the fourth largest memecoin by market capitalization. With its rapid growth, Floki’s ascent seems underpinned by a series of positive fundamental catalysts.

Token Fundamentals Strength 

Several fundamental developments are Driving Floki’s strong 24-hour performance. Most notably, the team revealed that the number of Floki holders on the BNB Chain grew to 417,000 users. The Floki token is multichain and available on both the Ethereum and BNB Chains.

https://x.com/RealFlokiInu/status/1798030536126189966

Tuesday saw Lunar Crush post that Floki’s social sentiment, or volume of mentions on social media, is “showing major strength.”  An update on Wednesday stated that the trend has continued gaining momentum, taking Floki to โ€œthe #1 LunarCrush AltRankโ„ข position.โ€

Market maker DWF Labs revealed it had teamed up with the project, buying $12 million of Floki tokens to support the ecosystem. A proportion will be acquired on the open market, with the balance being bought directly from the Floki treasury.

On the Flipside

  • DWF Labs were recently embroiled in wash trade allegations on the Binance platform.
  • Memecoins have been the stand-out crypto genre this cycle.
  • Floki is about a seventh the size of memecoin market leader Dogecoin.

Why This Matters

The Floki frenzy highlights how narratives and cultural relevance have become powerful drivers in crypto markets.

The Floki team announces plans for an exciting new marketing campaign.
Floki Soars 24%, Teasing Marketing Bigger than Times Square

The Epoch Times is caught up in financial scandal as CFO indicted. 

$67M Crypto Scandal Rocks Epoch Times as CFO Faces the Law

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Samuel Wan

Samuel Wan is a reporter at DailyCoin covering market affairs. Samuel's has holdings in Bitcoin and Cardano, with other minor holdings across the market.

Read more