FLOKI Dusts DOGE, SHIB, PEPE as TVL Hits $820 Million

Cover image via U.Today

The Floki meme coin recently hit a major milestone, with Total Value Locked (TVL) reaching $820 million. As a result, top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepecoin (PEPE) are now far behind FLOKI with respect to their total TVL.

FLOKI shines bright

As revealed by the team, FLOKI's $820 million TVL represents an all-time high (ATH) and the highest of any meme coin in the industry. Note that TVL represents the total value of an asset locked or staked in a particular protocol. A project with a higher TVL value is considered to be more successful and viable than one with a lower value.

For FLOKI, the $820 million TVL was achieved from Floki Staking and FlokiFi Locker. The former accounts for over $700 million, while the latter is over $120 million.

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— FLOKI (@RealFlokiInu) May 28, 2024

With this impressive accomplishment, it can be deduced that a lot of investors find FLOKI interesting and are thus flocking into the ecosystem. If this move continues, it would only take a short time for Floki to achieve its vision of becoming the world's most known and most used cryptocurrency.

In the last 24 hours, the price of FLOKI has increased by 4.3% to $0.000298. The market cap and trading volume also increased by 4.8% and 40% to $2.8 billion and $1.3 billion, respectively.

Recent developments in Floki ecosystem

Following the announcement of Floki's recent achievement, the team said Floki Staking Launchpad v2.0 is now live for users. According to Floki, all users who register in the next 48 hours stand a chance of earning a 3.5 times APR staking multiplier bonus.

This comes only a day after Floki announced the launch of its own trading bot. The platform said 50% of all fees generated through the bot will programmatically buy and burn FLOKI to enhance its utility.