Floki Inu (FLOKI) surges amid meme coin rally

Floki Inu’s price rallied to $0.00003204 from $0.00002790 in the last 24 hours.

LAGOS (CoinChapter.com) — Floki Inu (FLOKI) is in the spotlight today as the popular meme token rallied by more than 6% in the last 24 hours.

In detail, Floki Inu’s price registered remarkable growth in the last 24 hours, rallying to $0.00003204 from $0.00002790, according to data from CoinGecko.

FLOKI/USDT daily price chart. Source: TradingView

FLOKI’s price, up more than 15% in the last month, saw its 24-hour trading volume surpass $16 million. Notably, the latest upswing has propelled FLOKI above the long-standing trendline that has been in play since late last year.

Despite the surge, FLOKI’s year-to-date performance remained in the red zone at around 70%. Also, the token is still 90% below its all-time peak of $0.00033651 hit in November 2021.

Meanwhile, Floki Inu’s price rise comes a day after Shiba Inu (SHIB) rallied significantly following its listing on the trading platform Robinhood.

Following the announcement, SHIB, commonly referred to as the Dogecoin killer, rose by 36% to a two-month high of $0.00002819. However, SHIB at the time of publication was down by 9%, trading at $0.00002614, according to CoinMarketCap data.

Floki Inu Competition Catalyst For Growth

Furthermore, aggressive marketing campaigns have been credited for the surge of the dog-faced meme token.

Floki’s new competition with a $28,000 USDT prize pool has invariably prompted a lot of activities on the meme token platform. Notably, the Floki Guerrilla Marketing Competition is aimed to boost the adoption of the token and reward loyal users.

Global Crypto Market Recovers, Rise By 0.7%

Meanwhile, the Floki Inu surge comes as the entire crypto market slightly recovers from its recent bearish run. The global market cap is currently up by 0.7% in the last 24 hours and is at $1.9 trillion, Coingecko data revealed.

Heatmap of the global crypto market. Source: Coin360

However, Bitcoin, the largest digital asset by market cap, was down by 0.99% and is trading at about $39. Ethereum, on the other hand, rose by 0.05% and is trading at $3,032.

USDT Tether stablecoin showed no change in its value in the last 24 hours, while the second-largest USDC stablecoin rose by 0.02%.

Furthermore, Binance native token (BNB) and Solana (SOL) rallied by 5.03% and 2.8%, respectively. Ripple’s XRP is up by 2.3%, and Cardano’s ADA token showed a 2.02% uptrend.