FLOKI topped today’s market with a 70% surge, becoming the fifth-largest meme coin.
The meme coin sector seems to be making the most gains in the current bull market. Today, the overall market cap for meme coins reached $62 billion, increasing 9% in 24 hours. FLOKI has emerged as the top gainer today, rallying over 70% and approaching its all-time high.
Friday’s surge also saw FLOKI overtake BONK and Fantom in terms of market cap. Although this surge is mainly attributed to the overall bull market, several additional developments in the FLOKI ecosystem have driven user sentiment toward the viking-themed meme token.
The FLOKI team announced today that its flagship P2E metaverse game, Valhalla, has been launched on the testnet and will deploy on the mainnet later this year. FLOKI will also burn $45 million in tokens on Saturday, significantly reducing the meme coin’s circulating supply.
The token’s staking program reached an all-time high TVL on the Ethereum and Binance Smart Chain networks, surpassing $420 million. Earlier this week, the token was also listed on the popular crypto exchange Uphold.
These latest milestones have driven positive market sentiment for FLOKI, as the token’s current Fear & Greed Index shows extreme greed.