The Floki Inu cryptocurrency, widely recognized as a memecoin, made headlines by notably standing out among gaming projects on the BNB Network. The rise was quick, surprising and undoubtedly made many crypto fans smile.
Let’s get into the details: The team behind Floki Inu didn’t hesitate to share its recent achievements with the world, especially by revealing that its volume surpassed popular projects like SAND, MANA and AXS by an impressive 4 to 1 ratio.
— FLOKI (@RealFlokiInu) October 24, 2023
And as if that wasn’t enough, Floki even managed to close an exciting partnership with the World Table Tennis Championships, a renowned event that took place in the city of Frankfurt. This only proves the team’s ability to align with high-caliber events and partnerships.
However, it is worth noting that the rollercoaster of the cryptocurrency market is inescapable, and Floki is no exception. Even after a jump of more than 40% in price in the previous week, the currency saw a correction and fell by more than 5% at the beginning of the day, trading at US$0.00002499.
However, Floki Inu, which was stopped near the US$0.000026 zone, jumped to US$0.00003280 with more than 20% increase on the day. Currently, Floki Inu price was quoted at US$0.00003080, up 19% in the last 24 hours.
When analyzing Floki Inu’s underlying metrics, we noticed a few points of caution. The MVRV ratio saw a sharp drop at the beginning of the day. Additionally, the currency’s daily volatility also declined, as did the daily active address count. However, a beacon of hope shines with the coin’s development activity, which has remained high, indicating that the team is working hard to bring continuous improvements to the network.
Although metrics show mixed signals, Floki Inu’s impact on the BNB Network is undeniable. And now, we can only see how this crypto, which has gained prominence in the gaming scene, will behave in the coming weeks.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.