FLOKI Joins Top 100 Cryptos Since A 500% Increase In Just 3 Months

Key Points:

• FLOKI has risen to the top 100 cryptocurrencies by market capitalization on Coinmarketcap.
• After been shilled several times by billionaire Elon Musk, this is presently one of the most famous memecoins at the moment.

According to Coinmarketcap rankings, the memecoin FLOKI is now among the Top 100 Cryptocurrencies after a staggering 489% increase in just the first three months of 2023.

Floki Inu, the popular Shiba Inu-inspired cryptocurrency project, has hit another significant milestone. On June 25, 2021, Elon Musk, a supporter of Dogecoin ($DOGE), tweeted that the name of his Shiba Inu dog would be “Floki.” This sparked the concept for this cryptocurrency. This meme coin is the Floki ecosystem’s utility token, “providing Metaverse 3D NFT, DeFi utility, crypto education platform, NFT, retail store, and more.”

According to an article published in Forbes magazine, the currency was first conceived as a meme-coin based on Elon Musk’s dog, but it has now developed into a complete web3 project that encompasses decentralized finance, NFT, and the Metaverse. The group of people working on the Floki project have made something more out of a meme-coin that was before useless. The team would like to express their gratitude to CoinMarketCap for “accurately” tracking the token market value. At the moment, the token ranks as the most valuable cryptocurrency overall, according to market cap. According to the statistics provided by TradingView, $FLOKI has seen an increase of more than 489% so far this year.

As reported by Coincu, Venus Protocol, the most famous lending protocol on BNB Chain, just stated that it is ready to begin accepting Floki as collateral. This token is a “dog-type” memecoin project that was developed in 2021 and named after billionaire Elon Musk’s dog. Venus is taking this move in the hopes of converting this meme coin into a property mortgage option to secure money borrowed from the project, which has a lockout value (TVL) of up to 800 million dollars.

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