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The cryptocurrency whose sales grew by 140% in a week is named
Cryptocurrency analysts have singled out the Floki Inu (FLOKI) memtoken, whose trading volumes have reached their highest level in the last three weeks, and its price has risen by more than 10%. In just 7 days, FLOKI sales increased by 140%.
The increased attention to the token was caused by an advertisement for the Valhalla metaverse game by Floki developers that appeared at several Chinese sports tournaments. Shortly afterward, the team recorded an influx of users from China to the project’s social networks, CoinDesk reported.
on May 28, Floki’s daily trading volume jumped to more than $ 60 million, while the previous week it averaged $ 25 million. The project’s developers wrote on Twitter that Floki is «strategically focused on Hong Kong and China, which are opening up to cryptocurrencies,» and also reminded followers of the «China Plan,» which involves partnering with a local social platform, launching a Chinese version of the Valhalla game, and attracting millions of local users.
Floki developer 100bviking noted in a message to CoinDesk that amid the slowdown in most major economies, China will grow the most.
«JP Morgan predicts China’s GDP growth of 4% in 2023, which is 2.5 times higher than the forecast for the global economy and 4 times higher than the US economy. The growth will also extend to cryptocurrencies, especially given their legalization in Hong Kong in a few days. There is a high probability that China will stimulate the next bull cycle in the crypto market,» the developer wrote.
Floki is an ERC-20 token based on the Ethereum blockchain. It is named after Elon Musk’s dog, so any information related to the businessman’s animal often causes Floki to grow.
In February, the value of FLOKI increased by 485.2% in 30 days. This happened due to Elon Musk’s post on Twitter. Then the billionaire posted a photo of his pet Floki, who allegedly solves social media issues. The dog’s T-shirt bore the inscription «CEO» — the highest executive position in the company.