u.today
The meme coin ecosystem is blowing up amid a broader recovery in the digital currency ecosystem. The meme coin market has soared by approximately 2.39% in 24 hours to $64,365,653,712. Of the tokens fueling this combined market growth, Floki ($FLOKI) is in the lead.
The token has jumped by more than 15% overnight and is changing hands for $0.0002776. This $FLOKI momentum is far outstripping its key rivals, like Shiba Inu ($SHIB), $PEPE and Dogwifhat ($WIF). While $SHIB is up by 1.56% to $0.00002522, $PEPE and $WIF have rallied by 2.42% and 6.44%, to $0.00001525 and $3.46, respectively.
Each of these meme coins has the fundamentals impacting their performances across the board. For $FLOKI, the massive 15 billion token burn it implemented on-chain in the past month has turbo-charged it for a massive rally in recent times. This burning has helped $FLOKI in retesting a monthly high of $0.0003119, atop a 40.74% jump.
Besides this, $FLOKI has achieved several exchange listings in the past few weeks that have helped it expand its reach across the board. This is also complemented by the launch of a trading bot on Telegram to enhance accessibility.
Over the past few weeks, the performance of $FLOKI has set the token apart in more unusual ways. The digital currency has seen a surge in its Total Value Locked (TVL), becoming the first meme coin to record more than $820 million this year.
Shiba Inu has been innovative in unique ways through the Shibarium Network. However, its best efforts have only seen its DeFi TVL pegged at a mere $2.45 million, per data from DeFiLlama.
With meme coin competition growing at a very fast pace, Dogecoin (DOGE) has maintained its lead as the largest per market capitalization. Shiba Inu and $PEPE rank as the second and third largest assets, with $WIF and $FLOKI rounding out the top five.