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Why FLOKI’s ‘Uptober’ Season Drove It Past SHIB, DOGE, and PEPE

Published 10/23/2023, 10:19 PM
Updated 10/23/2023, 10:45 PM
Why FLOKI’s ‘Uptober’ Season Drove It Past SHIB, DOGE, and PEPE
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  • FLOKI’s trading volume surpassed that of SHIB, PEPE, and DOGE.

  • The meme was overbought but a rebound to $0.000025 is likely in the mid-term.

  • If massive profit-taking begins, FLOKI would need the $0.000017 support to resist the pressure.

Before October began, many market participants believed that Floki (FLOKI) would have a good showing. Interestingly, the meme coin has not disappointed, as its value has increased by 61.55% in the last 30 days.

At press time, the price of FLOKI was $0.000026. However, the increase in value did not just happen without underlying developments. In fact, one reason the token was able to gather a lot of interest was the revelation by the FLOKI team that it was introducing more use cases, including the ability to stake the token.

As a result of the disclosure, interest in FLOKI increased significantly, and the likes of Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB) trailed behind it in terms of trading volume. According to FLOKI, the surge in interest helped it record an incredible 200 million transactions in daily spot trading.

The post Why FLOKI’s ‘Uptober’ Season Drove It Past SHIB, DOGE, and PEPE appeared first on Coin Edition.

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