Floki (FLOKI) Reaches Ecosystem TVL of $820 Million — An All Time High

Floki just hit a total value locked (TVL) all time high of $820 million across two of its key ecosystem products:

FLOKI price continues to soar, notching a 14.40% gain in the last 24 hours to reach $0.00028. This outperforms its rivals, SHIB, PEPE, and WIF, which also saw gains of 0.53%, 3.10%, and 5.79%, respectively.

Floki's impressive performance is due to several factors, including a massive $15 billion token burn that was carried out on-chain in the past month. This move helped propel FLOKI to hit a monthly high of $0.0003119 on May 28, marking a 40.74% gain.

Additionally, the token recently secured several exchange listings, expanding its reach and making it more accessible. A trading bot on Telegram was also introduced.

Floki's success is evident not only in its recent price performance but also in its achievement of another significant milestone in terms of Total Value Locked (TVL). It became the first meme coin to record over $820 million in TVL this year.

Meanwhile, Shiba Inu's DeFi TVL remains at a mere $2.45 million despite its innovative efforts through the Shibarium Network.

FLOKI REACHES ECOSYSTEM TVL OF $820 MILLION — AN ALL TIME HIGH

$Floki just hit a total value locked (TVL) all time high of $820 million across two of its key ecosystem products:

– Floki Staking: $700.24M+

– FlokiFi Locker: $120.13M+

This impressive TVL record, which is the… pic.twitter.com/pbclsHZ0ed

As the meme coin competition intensifies, Dogecoin (DOGE) still holds its position as the largest meme coin by market capitalization. Shiba Inu and PEPE are ranked as the second and third largest assets, respectively.

However, with a decreasing trading volume and a circulating supply that now constitutes 96.94% of its max supply, FLOKI currently sits at #44 in the market cap rankings on CoinMarketCap, boasting a hefty $2.71 billion valuation.