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Floki fluctuates at 22%, aiming for the title of “most used cryptocurrency in the world”.
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Floki, the self-proclaimed “Doge Killer”, is taking a bite out of the memecoin market with a bark and a marketing blitz. The Shiba Inu-inspired cryptocurrency has announced plans for its most aggressive marketing campaign yet, causing the price of its token to skyrocket.
Floki’s aggressive marketing push
Floki’s marketing director, Saber, remained tight-lipped on details, but promised that the upcoming effort would dwarf anything they’ve done in the past two years.
This news, along with the announcement of Floki futures trading on Coinbase coming May 30, fueled a 24-hour price increase of 22%, pushing Floki to the top of the memecoin chart.
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Shout out to those with long-term memories who know what to expect #Floki and our moves™.
With the experience and knowledge to tackle the toughest challenges, we’re preparing to announce our biggest marketing initiatives of the last 2 years in the coming months📍 pic.twitter.com/UOo4awAD8o
— Saber (@SabreEthereum) May 27, 2024
This is basically Floki strapping on his jetpack and aiming for the moon. The marketing blitz shows that they are serious about conquering the memecoin space, and listing futures on Coinbase is like getting a thumbs up from the cryptocurrency pioneers themselves.
According to Saber, the upcoming marketing push will help Floki “dominate” the memecoin field and achieve its goal of becoming the “most used cryptocurrency in the world.”
Floki isn’t the only dog chasing its tail in the memecoin race. Coinbase is also adding rival memecoins Shiba Inu and Bonk to its list of futures. But with Floki leading the pack in terms of price increases, it seems to have stolen the early show.
The price rally marks a significant turning point for the currency. After bottoming in April, the token continued to rise steadily, but Monday’s announcement triggered a breakout, pushing prices to an 11-week high. This represents a staggering 160% increase since mid-April.
Analysts, however, warn that Floki’s victory lap may be premature. The memecoin market is notoriously volatile, and external factors such as economic headwinds and the ever-present threat of dogecoin dominance could throw Floki into a difficult situation. Furthermore, the success of Floki’s marketing campaign remains a mystery.
Floki: market performance
The memecoin’s latest major marketing campaign targeted visitors to New York’s Times Square, where the brand was emblazoned on screens near the Nasdaq billboard for two months, starting March 15.
Today, the price of FLOKI stands at $0.00027, with 24-hour trading volume of $1,025,844,340.44. This marks an increase of 27.82% compared to last week. With a circulating supply of nearly 10 trillion, the market capitalization stands at $2.6 billion.
Featured image from iStock, chart from TradingView