Floki Inu (FLOKI), the popular meme coin, has been on a steady rise in the past few days both in price performance and general adoption. Exactly a week ago, crypto giant Binance added the cryptocurrency to the Metaverse and Gaming sections on its exchange.
After a slow start, the price of FLOKI seems to be finally leveraging the positive sentiment surrounding it.
FLOKI Surges 26% In 7 Days – Price Action
FLOKI has registered a significant 25.9% price rise in the past seven days, having broken 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 a single day.
It appears that the token might be gaining some momentum at the moment, albeit with only a 1% price increase in the last 24 hours. FLOKI is currently being held at a key resistance and would need to breach this threshold if it is to continue on its upward trajectory.
FLOKIUSD trading at $0.0000261117 | Source: FLOKIUSD chart from TradingView
Moreover, it is worth noting that the daily Relative Strength Index, an indicator that tracks the balance between buying and selling pressure, has barely crossed the 50 mark. This indicates that a bullish run is still uncertain.
As of this writing, Floki Inu changes hands for $0.00002687, with a 24-hour trading volume of more than $78.4 million. According to data from CoinGecko, the coin is currently 52% away from its 2023 high reached on February 17.
On June 22, 2023, Floki Inu’s official Twitter account released a tweet giving an update on the ecosystem’s 2023 roadmap. It is a summary of some of the projects their developers have in the pipeline.
The first item on the roadmap update is a major upgrade for the FlokiFi Locker, a protocol for securing digital assets, such as Liquidity Pool (LP) tokens, NFTs, and fungible assets. This advancement, which is being touted as FlokiFi’s biggest upgrade yet, will integrate native payments, burn mechanisms, a referral program, and other functionalities.
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 biggest lending protocol on the BNB chain”. Meanwhile, a staking program is being tested at the moment and will launch as soon as 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