Floki Inu (FLOKI), the popular meme coin, has been on a steady rise in the past few days in both price performance and overall adoption. Exactly a week ago, crypto giant Binance added the cryptocurrency to the Metaverse and Gaming sections of its exchange.
After a slow start, it appears that FLOKI price has finally benefited from the positive sentiment surrounding it.
FLOKI Rise 26% in 7 Days – Price Action
FLOKI has recorded a significant price rally of 25.9% in the past seven days, after breaking out of the consolidation zone earlier this week. The price of Floki Inu started moving sideways after falling almost vertically on June 10, losing more than 20% of its value in one day.
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It looks like the token may be gaining some traction at the moment, albeit with only a 1% price increase in the last 24 hours. FLOKI is currently hanging at a major resistance level and will need to break this if it is to continue its upward trajectory.
FLOKIUSD trading at $0.0000261117 | Source: FLOKIUSD chart from TradingView
Furthermore, it is worth noting that the daily RSI, an indicator that tracks the balance between buying and selling pressures, has barely surpassed the 50 level. This indicates that the uptrend is still uncertain.
As of this writing, Floki Inu has a trade change of $0.00002687, with a 24-hour trading volume of over $78.4 million. according to Data from CoinGeckoThe coin is currently far from its 2023 high on Feb. 17.
FLOKI INU shares updated roadmap for 2023
On June 22, 2023, the official Floki Inu Twitter account released a dossier tweet Introducing an update on the ecosystem roadmap for 2023. It’s a rundown of some of the projects their developers have in the pipeline.
The first item in the roadmap update is a major upgrade to FlokiFi Locker, a protocol for securing digital assets, such as Liquidity Pool (LP) tokens, NFTs, and fungible assets. The advance, which is described as FlokiFi’s biggest upgrade to date, will integrate local payments, burning mechanisms, a referral program, and other functions.
Source: Floki Inu
Furthermore, the tweet mentioned a “major DeFi lending and borrowing integration,” which will allow users to collateralize their FLOKI tokens to borrow other cryptocurrencies from “the largest lending protocol on the BNB chain.” Meanwhile, the staking program is currently being tested and will start once internal checks are over.
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A new and improved FlokiFi design is also in the works. Other projects mentioned in the 2023 roadmap update include Project TL and Valhalla. All of these developments are expected to occur by the end of 2023.
Featured image from iStock, chart from TradingView