Benzinga - Dog-themed cryptocurrency Floki (CRYPTO: FLOKI) exhibited another stellar performance Tuesday, emerging as the hottest memecoin in the market.
What Happened: The coin named after Tesla CEO Elon Musk's Shiba Inu dog, was the fourth-best performing cryptocurrency, and the biggest memecoin gainer in the last 24 hours.
With double-digit gains of 13%, the coin was within touching distance of hitting its all-time high of $0.0003118 set during the peak bull market of 2021. Its market cap broke past $3 billion in the last 24 hours.
In the last 24 hours, FLOKI's trading volume stood at $801 million, higher than blue-chip meme tokens such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
Why It Matters: FLOKI's surge reflected growing demand for the newer breed of canine coins, a sector traditionally dominated by DOGE and SHIB.
In fact, it became the biggest memecoin on the BNB Chain (CRYPTO: BNB), with more than 417,400 holders.
$FLOKI just crossed 417,400 holders on the $BNB chain!#Floki remains the biggest #memecoin on the #BNB chain by far, with a far bigger market cap than every other BNB chain memecoin COMBINED!#Floki's vision is to be the world's most known and most used cryptocurrency, and we… pic.twitter.com/dCSnTVfXWI— FLOKI (@RealFlokiInu) June 4, 2024
Price Action: At the time of writing, FLOKI was exchanging hands at $0.0003189, surging 17% in the last 24 hours, and more than 67% over the month, according to data from Benzinga Pro.
Photo Courtesy: Maurice NORBERT On Shutterstock.com
Read Next: Bitcoin Will Achieve Half The Market Cap Of Gold, Predicts VanEck CEO
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.