Floki Inu (FLOKI) has broken into the top 100 crypto market rankings and is now number 97, following a jump of more than 35% in the past 24 hours.
At the time of writing at 11am BST on 25 April, the price was trading at $0.00003888, with a market cap now valued at $377million.
FLOKI’s rally also follows the launch of staking on the crypto’s testnet, which would allow buyers to earn rewards. Floki Inu has a large token supply, in spite of its low price.
However, the current FLOKI price is still 88.84% down from its all-time high of $0.0003437 on 4 November 2021, according to data from CoinMarketCap.
Elon Musk’s pooch Floki
Floki Inu was born in 2021 following Elon Musk’s tweet about his new Shiba Inu dog.
When it launched on 10 July 2021, FLOKI was worth $0.00000361 and remained flat for the first few months. Then on 12 September 2021, Musk revealed his new pup.
Before Elon’s tweet, FLOKI traded at $0.00001686. Following the tweet, it then rose by 117% in 24 hours to a high of $0.00003663.
The memecoin’s highest point in 2023 so far was 17 February when it hit $0.0000628.
FLOKI is a decentralized ecosystem of protocol’s built around the FLOKI token. The FLOKI token is a utility token, governance token, and medium of exchange token that is central to the Floki ecosystem.
According to the Floki whitepaper: “The Floki Ecosystem is a community-powered ecosystem that aims to give people control of their finances through four key utility offerings: The Valhalla NFT Metaverse Game. The FlokiFi DeFi ecosystem. The Floki University Crypto Education platform. The FlokiPlaces NFT & Merchandise Marketplace.” The Floki community calls itself the ‘Floki Vikings’.
The Floki website adds: “The Floki Vikings, a global community over 450,000 strong, are on a mission to make Floki the most popular crypto in the world. We are known for epic social media raids and making Floki memes to appeal to the masses.
“The community is the heart and soul of Floki.”