Floki Inu Is To Hit ATH By Month End; Here’s Why?
Release: 2024/03/12 00:04 Reading: 315
Floki Inu has surged 800% in just a month, making the audience thousands of dollars in profit. It is just 19% away from its all-time-high value, and the ongoing hike of the crypto is raising the hopes of people for that to happen.
Will Floki Inu hit its ATH? Let’s discuss that in this blog.
Floki Inu Price Analysis
In the ongoing bullish market, Floki Inu is winning the race with a hike of 803% in just a month. It is trading at $0.0002819, with a 24.67% hike from yesterday. What’s more interesting is the trading volume of $2,264,243,636 after a 130% hike.
This kind of peak for FLOKI was last noticed in 2021 when it peaked at its all-time high of $0.0003437 on 4th November. For almost two and a half years, FLOKI has maintained a value between $0.000007562 to as high as $0.00005496.
A week earlier, the Floki Inu team highlighted the growth of FLOKI recently through an X post. In the post, the team mentioned that FLOKI has created a new record of reaching $526 Million in trading volume over its FLOKI Staking and FlokiFi Locker combined.
FLOKI REACHES ECOSYSTEM TVL OF $526M—ANOTHER RECORD HIGH#Floki has just crossed a total TVL of $526M across two of its key ecosystem products, just one day after reaching an ATH of $494 million:
– Floki Staking: $389.6M
– FlokiFi Locker: $136.9MThis impressive TVL, exceeding… pic.twitter.com/Qjdu4EYwrR
— FLOKI (@RealFlokiInu) March 4, 2024
Reasons Why Floki Inu Might Hit ATH Anytime Soon?
FLOKI’s popularity over the past is enough to keep the coin in demand. It is closer to reaching its ATH value and might cross that before this month ends, as it is only 19% away from it. There are three reasons for that to happen, and if the market is favored, it will grow even higher.
Increasing community support
The ongoing bull run was responsible for lifting the FLOKI prices initially, which increased people’s interest in this crypto. Once getting into the trend, things started spreading with word of mouth lurking more investors. As a result, the price increased continuously.
Another significant factor is whale interference. On 5 March, Lookonchain shared a whale withdrawal of 8.19B $FLOKI worth over $4.29 Million.
A fresh wallet withdrew 28.19B $FLOKI($4.29M) from #Binance 40 mins ago.https://t.co/aJRdOG7A8T pic.twitter.com/M5I3gzVaCh
— Lookonchain (@lookonchain) March 5, 2024
FLOKI was already a popular meme coin and had shown its potential by reaching the ATH value of $0.0003437. With a record of profit, the investors are expecting the same for this season as well.
Floki Inu Token Burning
FLOKI tokens’ increased hype is also associated with the token-burning news. On the 2nd of March, Floki Inu’s official X handle shared the information about the approval of the burning of 190,918,585,431.84 FLOKI tokens by FLOKI DAO. This amount of tokens are worth more than $24 Million and will help in the scarcity of the token, leading to increased price growth. This burning has been completed successfully two days ago.
IT'S OFFICIAL: FLOKI DAO PASSES VOTE TO BURN 190,918,585,431.84 FLOKI TOKENS
The #Floki DAO has voted in favor of burning 190,918,585,431.84 $FLOKI tokens. At the current market value, this is worth over $24 MILLION.
In line with the decision of the Floki DAO, the tokens will… pic.twitter.com/uGu0XFU5p9
— FLOKI (@RealFlokiInu) March 2, 2024
Increasing Meme Hype
More than any other altcoin, meme coins have recorded the highest growth in the last few days. It included meme coins like Pepe Coin with a 786% hike, Shiba Inu with a 252% hike, and Dogecoin with a 112% growth. The crypto community has called it ‘meme season,’ where meme coins have exhibited performances exceptionally well.
Conclusion
Floki Inu prices have surged over the roof recently, creating a high demand for meme coins in the crypto market. If the analysis turns out to be true, FLOKI will continue to rise and cover its ATH soon. Read more about Shiba Inu vs Pepe Coin: where should you invest?
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