Floki has seen the biggest price surge among memecoins in the last day and week, even breaking above its all-time high.
Floki's trading volume is currently higher than Dogecoin, Shiba Inu, and DogWifHat.
The high trading volume on Floki also shows a growing investor interest in the memecoin
Floki also boasts the most holders on the BNB Chain, beating Dogecoin and Shiba Inu.
Floki's future performance is uncertain: It's unclear if Floki's momentum will continue or if there will be a correction.
The crypto market is turning green again for the first time in several weeks, and the memecoin market isn’t left out.
The memecoin market’s performance
According to CoinMarketCap data, the memecoin market has gained another 6% over the last day, pushing its capitalization well above the $65 billion mark.
We have memecoins like Dogecoin rising 3.49% over the last day, Shiba Inu by 10%, and DogWifHat by a similar 10%.
However, more than all of the other memecoins, Floki in particular, appears to be making the biggest waves.
Here are all the major aspects of Floki’s bullishness:
Floki, compared to the other memecoins, is up by around 24% over the last 24 hours and is by far the best-performing memecoin on the market, among the top 10.
Moreover, in the last week, the memecoin is up by around 15%, which still makes it the best performer among the top 5.
This surge in Floki's price over the last day and week has brought the cryptocurrency into a break and even a possible close above its previous all-time high of $0.0003462, which was last hit in 2021.
We now have Floki with a market cap of more than $3 billion and a very interesting increase in trading volume.
According to data from CoinMarketCap, Floki's trading volume stands at an impressive $1.4 billion, allowing it to beat the market caps of Dogecoin, Shiba Inu and even DogWifHat, with none of them nearing a trading volume of even $900 million
Floki beating the others
This chart from Santiment shows the trading volumes of Shiba Inu (purple) against Dogecoin (red) and Floki (orange).
As shown, Dogecoin has mostly overpowered the rest for years, Floki has been making a comeback these past few days and has been beating the other two since 26 May, until the time of writing.
This means that Investors are flocking to Floki, and this is a major indicator of further bullishness to come.
Aside from Floki’s ascent above the rest of the memecoin market in terms of trading volume and price performance, it has also become the biggest memecoin on the BNB Chain, boasting over 417,400 holders.
This achievement was highlighted by the official Floki Inu account this week, and shows a growing demand for some of the “older memecoins”, compared to the new and shiny ones.
It is also interesting how this dominance was previously held by Dogecoin and Shiba Inu at separate intervals in the past.
We still do not know whether Floki’s momentum is here to stay, or if a correction is inbound.
However, for now, Floki remains the top dog on the memecoin block.
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