Floki Inu (FLOKI) is up alongside other meme tokens. FLOKI represents doge-themed assets and is one platform that aims to onboard Web3 activities and gaming.
FLOKI went up close to its monthly high, reaching $0.0001894 with nearly 10% daily gains.
FLOKI marks a second round of the meme token trend, repeating its all-time high from 2021-2022. The asset trades at a higher baseline, gaining support from new enthusiasm for memes.
FLOKI Gets Boost from Token Burn Proposal
Like other meme tokens, FLOKI relies on a mix of holders and burns to diminish the token supply and move to a higher valuation. The DAO approach means voting for the FLOKI community to decide on the token burn. The news made FLOKI a trending asset based on social media discussions.
NEW DAO PROPOSAL: BURN 15,246,000,000 $FLOKI TOKENSA new Floki DAO proposal just went live on whether or not to burn 15,246,000,000 $FLOKI tokens.Please read the proposal and vote here 👇👇👇https://t.co/UVzQdYQUpu pic.twitter.com/j1mi6XrVZ0
— FLOKI (@RealFlokiInu) May 13, 2024
When meme tokens traded differently than other assets, they started paying more attention to FLOKI. The recent addition of FLOKI to the Van Eck meme coin index adds to the exposure.
#FLOKI is currently trending on X alongside $GME, #altcoins, #cryptocurrency, and Bitcoin ETF.$FLOKI was recently added to the MarketVector #memecoin index by top asset manager VanEck, and it continues to show strong momentum as a top memecoins to pay attention to! pic.twitter.com/JExLGSFe8W
— FLOKI (@RealFlokiInu) May 13, 2024
The positive performance of Dogecoin (DOGE) and Shiba Inu (SHIB) is adding to FLOKI’s improved profile.
In the coming months, FLOKI will add a Telegram trading bot, making the asset even more accessible. Additionally, the team at FLOKI will burn the bot fees to decrease the token supply further. FLOKI will also add a DNS service similar to Ethereum addresses to boost adoption and popularity.
FLOKI Bets on Gaming Once Again
One reason for FLOKI’s crash was the end of the play-to-earn boom. From the beginning, the creators envisioned FLOKI as more than just a token but also a fuel asset for a gaming ecosystem. But the outflow of players meant FLOKI traded sideways for years, erasing 99% of its value.
FLOKI is revamping its game strategy, offering a mix of social media exposure and a growing game environment. The Heimdall Ascends game issued a new patch with improved performance.
#Valhalla Patch 0.24.0 – "Heimdall Ascends"– Character Selection– Account linking with your wallet.– New website tab.– UI improvements and Vera animations.– Bug fixes for clans and ships.And much more!For full details, dive into: https://t.co/Q3fPsbbesr pic.twitter.com/kbElBoTkBT
— FLOKI (@RealFlokiInu) May 14, 2024
The Valhalla game is now trying to revive its player base. The Valhalla NFT was among the most successful during the boom of 2021, but it had a very limited presence on OpenSea in 2024.
But this year, Valhalla may rise again, as Floki Inu plans to launch two mainnet versions and a mobile version scheduled for the end of the year. The FLOKI token may also become part of FinTech activities by allowing FLOKI spending. For now, Floki Inu is in the process of securing banking services for the crypto-to-fiat ramp.
Multiple Uses Still Possible for FLOKI
FLOKI aims to offer multiple utilities in addition to its central game product, Valhalla. The Floki Inu platform offers TokenFi and DeFi options. Additionally, Floki Inu lists its own Valhalla NFT in a native marketplace.
Users can also spend the FLOKI token through a debit card. Additionally, FLOKI recently gained more exposure on Binance Pay, with a dedicated profile page.
$FLOKI now has a dedicated page on #Binance Pay! 🔥Exciting news for our merchants and the entire FLOKI community! In partnership with Binance, we've launched a new, dedicated webpage on Binance Pay, exclusively for $FLOKI payments.This page streamlines the integration and… pic.twitter.com/FSv3LtFviw
— FLOKI (@RealFlokiInu) May 13, 2024
The Floki Inu platform has also added educational tools and allows users to stake the FLOKI asset for additional passive income. FLOKI has no maximum supply and nearly 10B tokens in circulation, so any locked or staked tokens help boost the market price.
FLOKI also aims to grow its influence on Binance Venus, currently listed in an isolated pool. FLOKI decentralized trading still locks $2.7B in assets, but the project aims to become part of the Venus Core and draw in additional liquidity.
The FLOKI token has a relatively small holder pool of around 78K wallets, around 30% of the holders of PEPE. Despite this, FLOKI aims to become the most known meme asset with additional utility.
The recent trend of meme tokens showed that the leading assets with some history are the best performers. New meme tokens may be launched almost all the time, but only a handful rise to the top of the charts. FLOKI is among those tokens, boosted by an older, recognizable brand and a strong community.