Floki Inu’s new roadmap causes 8% rise for FLOKI – What’s next?

  • The highlight of the roadmap was the availability of a digital bank account and debit cards.
  • About $516 million worth of FLOKI tokens were staked at press time.

Dog-themed token Floki Inu [FLOKI] rose 8% in the last 24 hours, taking its trading price to $0.0002339 at press time, according to CoinMarketCap.

With the latest uptick, FLOKI’s weekly chart looked better with gains of 1.7%, having witnessed significant selling pressure in the first half.

Excitement around the new roadmap

The surge came after Floki’s developers announcement a roadmap, aimed at boosting the real-world utility of the meme coin, and establishing it as a serious crypto project.

The highlight of the roadmap was the availability of a digital bank account and debit cards.

The digital bank would reportedly support transactions in popular fiat currencies such as the U.S. Dollar (USD), Euro, and the Great British Pound (GBP).

The bank would also facilitate SWIFT payments — a globally accepted framework to send funds internationally.

Floki added that users could fund the account using their FLOKI holdings. This would not only give traditional banking exposure to a broader cohort of users, but also boost the demand and utility of FLOKI.

FLOKI retracts from peak

FLOKI was in the midst of a bull market, having skyrocketed 600% over the last month. The fourth-largest meme coin all but reclaimed its all-time high (ATH) earlier in the month when it hit $0.0003.

Since then, profit-taking dragged the prices down. According to AMBCrypto’s analysis of Santiment data, daily trading volumes also dipped considerably, while exchange inflows slowed down.

Source: Santiment

How much are 1,10,100 FLOKIs worth today?

A look at FLOKI’s staking service

Meanwhile, nearly 2.2 trillion FLOKI tokens, worth over $516 million, were locked on the platform’s four month-old staking program.

The staked amount equated to 26% of FLOKI’s total circulating supply, meaning that a sizable chunk of the meme coin, modelled on Elon Musk’s Shiba Inu dog, lied off-limits for market traders.

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