Two of the hottest meme coins, Floki, and the latest sensation WIF [Dogwifhat] are among the top two best-performing large-cap cryptocurrencies of 2024. Despite facing severe price correction, the liquidity metrics of these asset classes present a different picture. Amid geopolitical tensions, Bitcoin slumped while traditional asset classes like gold’s price surged.
Notably, meme coins have managed to maintain their position as many speculate if this is a precursor to the meme coin bull cycle. Data from FalconX, an institutional crypto exchange revealed the robust average daily trading volumes since March peak. Still, Bitcoin remains the dominant crypto, with 40% of the altcoins recording a negative return in 2024.
Meme coins, such as Floki have some intriguing updates coming up Notably, a quarter of Floki’s total token supply is currently staked, and up to 20% of these staked tokens could be burned if they are unstaked. Additionally, the ecosystem is looking forward to launching the Valhalla mainnet within the year. Versions tailored for Chinese users and mobile platforms are also expected to be released.
The meme coins’ ecosystem staged an impressive comeback with Floki basking in the glory for its recent Binance Pay integration. As earlier by TronWeekly, more than 12 million users gained access to FLOKI for transactions at premier merchants via the leading payment service module Binance Pay. The integration by the renowned crypto payments platform has not only boosted its utility but also bolstered its competitive stance against fellow meme coins such as Dogecoin [DOGE], Dogwifhat [WIF], and PepeCoin [PEPE].
FLOKI’s Utility and WIF’s Wealth Surge
This means over 12 million active users can use the token to pay merchants for goods and services across the world and within the Binance app’s Marketplace. Emerging as the key payment option, it has also opened up new horizons and possibilities.
Similarly, for Solana-based meme coin, WIF which in a short span of just under four months, has led investors to grow their investments exponentially, making them millionaires. On the other hand, many other investors in WIF missed out on these significant gains.
Disclaimer- While stories of rapid gains can be enticing, potential investors should approach such opportunities with caution.