Floki experiences a 74% increase, but experts question its long-term sustainability

Floki surges 74% and lists reasons for rally, but omits Elon Musk's latest tweet about the meme cryptocurrency.

Floki Inu surges over 74% in the last 24 hours, following Twitter CEO Elon Musk's buzz around the meme cryptocurrency by posting a photo of a dog assuming the position of "new CEO" of the microblogging platform.

Floki Inu cryptocurrency: what has happened in the last 24 hours

Floki Inu lists reasons for price surge on Wednesday, but doesn't mention Musk

There is a lot of interest in #Floki today: volume is currently at $153 million+ and a good portion of that is on #DEXs.

For perspective, $FLOKI hasn't had this much volume in over a year now.

This shows renewed interest in our ecosystem and we'd like to share some facts... pic.twitter.com/LDTGt6179D

— FLOKI (@RealFlokiInu) February 15, 2023

Floki, the meme-inspired cryptocurrency, has recently experienced a surge in interest and volume. In a tweet, the team behind Floki reported that the current volume has exceeded $153 million, with a significant portion coming from decentralized exchanges (DEXs). They noted that this level of volume hasn't been seen in over a year and is a clear indication of renewed interest in the Floki ecosystem.

Additionally, Floki mentioned in another tweet that they are seeing a lot of volume and interest in the Binance Smart Chain (BSC). They shared that Floki currently has over 365,000 holders on the BSC compared to the over 66,900 holders on Ethereum, which is a 5.5 times difference. This is due to the BSC's low gas fees and scalability. Floki also hinted at an upcoming major integration on the BSC, which has sparked further speculation and interest in the cryptocurrency.

Analysis of FLOKI Price Movements

FLOKI closes at $0.000046 after surging 74.60% in the last 24 hours, according to Benzinga Pro.