FLOKI is one of the best-performing cryptocurrencies this month. In the last 30 days, FLOKI has gained by 800%. This momentum is not slowing down, and today, FLOKI is up by 22%, and buying volumes are on the rise.
FLOKI has differentiated itself in the increasingly crowded meme coin market with a mix of hype and utility. While most meme coins rely on hype to drive their prices, FLOKI has an entire ecosystem around it that is helping drive actual demand. Among these include a Metaverse, a DeFi ecosystem known as FlokiFi, an NFT marketplace, and even a FLOKI University to help more people understand cryptocurrencies and loop them into the market.
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Total Value Locked Surges Past $750 Million
Already, the FLOKI ecosystem is showing solid signs of growth that is helping support and add to the potential for even higher prices going forward. For instance, today, FLOKI has now pushed through the $756 million mark in total value locked across two of its primary product offerings: Floki Staking and FlokiFi Locker.
The total amount locked in the two now stands at $611.3 million and $144.9 million, respectively. To understand this big deal, the amount locked in the FLOKI ecosystem is now bigger than the total value locked in other top meme coins such as Dogecoin, PEPE, WIF, Shiba Inu, and BONK.
FLOKI CROSSES ECOSYSTEM TVL OF $756M—ANOTHER ALL-TIME HIGH#Floki has just surpassed a record TVL of $756M across two of its key ecosystem products, just 2 days after its prior record of $658M:
– Floki Staking: $611.3M
– FlokiFi Locker: $144.9MThis TVL not only exceeds the… pic.twitter.com/EM5TA4jEuP
— FLOKI (@RealFlokiInu) March 10, 2024
Ongoing Token Burns
FLOKI is gaining momentum thanks to its ongoing token burn, which has seen $3.2 million worth of tokens burned this week through utility. There was $45 million of FLOKI manually burned over the weekend. With these ongoing token burns happening amid surging demand for FLOKI, they could see a continuation of the price momentum that FLOKI has built.
BREAKING: $3.2 MILLION in $FLOKI tokens was burned in the past week through #Floki utility. This is in addition to a previous $1.12 million burn driven by utility the week before, and another $45 million manual burn Yesterday.
That is more than the burns from $DOGE, $SHIB,… pic.twitter.com/wqfUenKziB
— BITCOINLFG® (@bitcoinlfgo) March 10, 2024
On top of all this utility-driven demand, there is a lot of momentum around FLOKI driven by FOMO buying. FOMO is intense around FLOKI, and in the last 24 hours, this popular meme coin has flipped Monero and Arbitrum, two of the best-known cryptocurrencies in the market today. As more people see FLOKI as a token that could soon deliver several thousand percentage gains, more money could push FLOKI into the top 20 largest cryptocurrencies by market cap.
This buildup in momentum is also supported by the fact that FLOKI Inu is easily accessible at most top-tier cryptocurrencies, a popular investment route for retail money. Among the top cryptocurrency exchanges where retail money can buy FLOKI are Binance, OKX, and KuCoin. This means an influx of retail funds, especially when the broader market is strongly bullish, could see FLOKI make new highs and possibly add several hundred percent of gains within the week.
In the section below, we do a FLOKI price prediction to determine how it could trade within the day and possibly in the next few days.
FLOKI Crypto Price Prediction
When going to press, FLOKI was trading at $0.0002807, an increase of 18% in the day. Volumes rose 104% in the day to stand at $2.17 billion.
After a price pump earlier today, FLOKI hit resistance at $0.00028860.
If, in the day, buying volumes increase and FLOKI pushes through the $0.00028860 resistance, then FOMO could easily see FLOKI kill a zero in the day.
On the flip side, two scenarios could play out if buying volumes drop in the day. The first is a possible consolidation between $0.00028860 and support at $0.00022160.
However, if short sellers increase in the day and push FLOKI through the $0.0002160 support, then prices below $0.0002000 could be hit with the day.
The Case For 100% Or More Gains Today
While a consolidation or correction is possible, the odds favor another upside breakout through the $0.00028860 resistance.
That’s because overall momentum across the market is bullish. This means investors, especially those looking to ride the wave, will likely gravitate to cryptocurrencies that are already showing strong upside momentum. FLOKI, one of those already showing intense price action, is expected to keep drawing in the most money. This is already quite evident in its trading volumes, which are now up by more than 100% in just 24 hours.
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