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June 22, 2023 00:12 | 1 minute read
Floki (CRYPTO:FLOKI) is up 16% in the past 24 hours, outperforming the top two meme coins by market capitalization Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB).
What happened: This rise in value appears to be due to a strong rebound in the cryptocurrency market, largely driven by Bitcoin (CRYPTO:BTC).
The crypto apex breached the crucial $30,000 resistance level for the second time this year, which helped rekindle investor confidence.
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Additionally, the cryptocurrency world has seen significant institutional buyouts, further bolstering investor sentiment.
Investment giant BlackRock’s request for a spot Bitcoin ETF has broken barriers, and Deutsche Bank will soon follow by applying for a digital asset license. Meanwhile, Fidelity, Citadel and Charles Schwab have launched an EDX crypto exchange, offering trading in four cryptocurrencies.
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Why it matters: Another contributing factor to Flokis’ recent success is news that he’s been relisted on the stock exchange. Floki Futures will be listed on WOO X.
Floki also recently scored a new listing on Bitci, one of Turkey’s leading cryptocurrency exchanges with over five million registered customers.
Earlier this month, Floki said he was implementing a new strategic marketing partnership with Binance Pay. Customers who make purchases worth at least $1 from approved merchants on the Binance Marketplace will receive rewards.
Price Action: At the time of writing, FLOKI was trading at $0.00002703, according to Benzinga Pro.
Read Next: Bitcoin Nears $29,000, Ethereum, Dogecoin Rise After EDX Market Launch: Analyst Predicts King Crypto $38,000 Rally, But If You Think It Will Hit $12,000, Then
2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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