FLOKI rose 8% on the price charts after the announcement of a roadmap, aimed at boosting the real-world utility of the meme coin.
With the latest uptick, FLOKI’s weekly chart looked better with gains of 1.7%, having witnessed significant selling pressure in the first half.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 digital bank would reportedly support transactions in popular fiat currencies such as the U.S. Dollar , Euro, and the Great British Pound .
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 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 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.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.Aniket is a full-time journalist at AMB Crypto.
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