The meme coin, Floki Inu (FLOKI) showed an outstanding performance and is expected to outshine other top meme coins like DOGE, SHIB, and PEPE in the bull run.

On November 4, FLOKI took to X (formerly Twitter) and shared an exciting update regarding the token. Inspired by Shiba Inu (SHIB) and named after Elon Musk’s dog and a Viking character, Floki, it is showing potential growth and is expected to outshine other tokens and coins.

In a tweet shared by FLOKI, the official X handle mentioned that approximately $54.4 million worth of FLOKI tokens have been locked in the Floki staking program.

Speaking of the FLOKI Staking Program, launched on October 27, the idea is to reward loyal, diamond-handed FLOKI holders. Staking FLOKI tokens will lead the holders to earn FLOKI’s sister token TokenFi as a reward.

The program holds significance as the sister token of FLOKI, TokenFi is a tokenization platform targeting the tokenization industry which is projected to be worth $16 trillion by 2030. Interestingly, the update came hours after Floki DAO Slashed TokenFi’s Transaction Tax to 0.3% from the initial 20%. 

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FLOKI Token Worth $54 Mln Locked in Staking Program

FLOKI Token has reportedly launched the FLOKI staking program, which has managed to accumulate an astonishing $41.35 million in locked assets within a mere 48 hours. Continuing with the growth of FLOKI Tokens, the remarkable achievement is at $54.4 million worth of $FLOKI tokens till now. 

The emergence of TOKEN followed prominent exchange listings, riding on the popular demand from members of the cryptocurrency community.

The data of the fast-growing multi-chain protocol Floki was shared on their official X handle, which gained a positive response from crypto traders and enthusiasts. Notably, there are 4,60,000 holders of FLOKI, with a massive reach of approximately 3 billion market people.

Furthermore, Floki Inu offers a three-month Annual Percentage Yield (APY) of 160%, for those locked Token for 4 years.

Impact of FLOKI Staking on Price

The FLOKI price was up 6.05% and traded at $0.00003176 during writing, while its trading volume over the last 24 hours jumped 21.74% to $45.33 m, with a circulating supply of 9.51 T FLOKI.

Meanwhile, according to experts, the recent reduction of tax imposed on TokenFi’s Transaction from 20% to 0.3%, can significantly impact the crypto price. In addition, it can potentially attract more investors for the FLOKI Skating Program.

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The post Floki Inu Staking Hits $54 Mln Outshining DOGE, SHIB, & PEPE appeared first on CoinGape.

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Filed under: News - @ November 4, 2023 11:12 am