Floki, a memecoin, has surged over 23%, reaching $0.0002812, with a 39% increase over the past week.
Floki, a Memecoin project, is once again receiving a lot of attention after its price increased by more than 23 percent, reaching $0.0002812. For more than a week, the memecoin project has been recording optimistic fundamentals, all aimed at bolstering the recent price surge.
The value of the token has increased by more than 39% over the past seven days, bringing it closer to the point where it will be worth zero. Currently, multiple fundamental factors support the price of FLOKI. One of the most significant features is the new initiative that its makers presented, which incorporates trading bots.
FLOKI Trading Bots, Coinbase Influence Impact
Telegram introduced the design of the trading bot, which will offer services to Floki holders connected to the BNB Chain network. This bot aims to drive the demand for the tokens through their ease of access or purchase. On the other hand, the trading bot imposes a 1% fee on each and every transaction that it executes.
We informed everyone that we will use 50% of the collected transaction fees to buy back FLOKI on the open market. In the realm of memecoin, where there is a significant supply of circulating tokens, it is crucial to implement a strategic measure to reduce this supply, thereby determining the future growth prospects of memecoin.
Token burning is one of the primary methods that projects such as Shiba Inu (SHIB) and FLOKI use to get rid of their surplus supply of tokens. Coingape recently published a story revealing that they burned up to 15 billion tokens following approval from the Floki DAO.
FLOKI’s new inclusion on Coinbase Perpetuals is another significant event contributing to the cryptocurrency’s rising popularity. The listing is a significant endorsement, given Coinbase’s widespread recognition as the most prominent cryptocurrency trading platform in the United States.
The quest to retest the memecoin project’s All-Time High (ATH) price is the driving force behind its current surge. This is a significant trend in the project.
Currently, the token is around 17% below the highest possible price (ATH) of $0.0003437. If the social attitudes surrounding FLOKI, which have propelled it to the top of the charts on exchanges like Coinbase, persist, the cryptocurrency could potentially increase by 17% in the coming weeks. They is working hard to retest an all-time high, but competitors such as PEPE have surpassed many all-time highs in the same month. This is because the memecoin market as a whole is experiencing a significant surge.