A token mined in honor of Ilon Musk's dog gained $1.2 billion in market value in a week

Another March day in the cryptocurrency market, accompanied by a lot of green on the price charts. Memecoins continue to show double-digit growth throughout the day, but one of them deserves special attention. We are talking about Floki Inu, a project created in honor of Ilon Musk's dog. It sounds frivolous, but were memcoins ever meant to present a different tone? So let's take a look at what's in store for Floki.
The price of Floki Inu has risen 253% in the last seven days, but much more important is its market value, which today reached the $1.8 billion mark,
The creators of this token also announced that it was listed on another cryptocurrency exchange today.

Floki Inu is trending upwards

The cryptocurrency market is once again under bulls' rule, with prices of most digital assets trending upwards. Some say this is the end of the bull market and the event as a whole, while others argue that we are only at the stage of a loud bifar before a concrete melange.
The memecoin sector has seen incredible price spikes for these tokens this week, with PEPE, BONK, WIF and SHIB leading the biggest rally. Dogecoin also jumped steeply, however, it was these first four coins that saw the most growth.
However, beyond simply measuring the percentage increase in price, the market capitalization of a project is an important consideration, as it tells us a lot about how many investors are betting on the token and what the ratio of capital invested in the project is to the total supply. All of this can make a difference to the fundamentals and future of the cryptocurrency.
This is where Floki Inu, a memcoin created a few years ago in honor of Elon Musk's dog that the billionaire named after him (Floki), has caught the attention of market analysts.
Over the past week, its market capitalization jumped by as much as $1.2 billion, from $519.4 million to $1.84 billion. The token has thus become the 64th largest cryptocurrency in terms of total market capitalization.

Moreover, today this memcoin was officially listed on the Singaporean cryptocurrency exchange Coinhako
FLOKI
@RealFlokiInu.
You can now trade $FLOKI on Coinhako!@Coinhako is the largest exchange in Singapore. It is also regulated by the Monetary Authority of Singapore.
This listing allows Singaporean cryptocurrency users to buy #FLOKI for SGD and USD on a regulated exchange.
This listing is a big deal...

Floki is so funny, but so useful

Most memcoins, of course, don't have a solid foundation in terms of their practical use. However, this is not the case with Floki.
Floki Inu is one of the payment types accepted on leading e-commerce platform AliExpress. It is also an asset whose steaking is available on the TokenFi platform.