• FLOKI has seen a parabolic surge in its staking program now worth $54.4 million.
• FLOKI has made a pivot beyond memecoins, making it an investment worth watching.

FLOKI, one of the prominent meme coins in the crypto market, recently achieved a significant milestone that has ignited a price rally. With the Total Value Locked (TVL) in FLOKI’s staking program reaching an impressive $54.4 million, crypto enthusiasts and investors are now wondering if it’s the right time to buy FLOKI.

The FLOKI TVL Surge

Over the weekend, FLOKI experienced a notable surge in its price, reaching $0.00003132 on the Binance crypto exchange. This price rally was catalyzed by the launch of FLOKI’s staking program. Just one week after going live, the FLOKI staking program attracted a staggering $54.4 million in locked assets.

This figure is particularly significant as it accounts for approximately 17% of FLOKI’s total supply and 18% of the circulating supply. The statistics, shared by the official X handle of the memecoin, confirm that FLOKI’s staking program has garnered substantial interest from the crypto community.

Staking is a process in which cryptocurrency holders lock their tokens in a smart contract to support the network’s operations and security. In return, stakers receive rewards, typically in the form of additional tokens. However, a key point to understand is that staked tokens are temporarily removed from circulation.

In the case of FLOKI, a majority of the staked assets are expected to remain locked in the program for up to four years. This extended lock-up period reduces the number of FLOKI tokens in circulation, which can have a bullish effect on the coin’s price. This scarcity can potentially drive up demand for FLOKI, especially if the staking program remains popular.

It’s worth noting that FLOKI’s sister token, TokenFi (TOKEN), has a staking system as well. Over half of TOKEN’s supply has been allocated to stakers, allowing users to earn TOKEN tokens over four years at an impressive Annual Percentage Yield (APY) of up to 160%. Staking FLOKI tokens not only benefits the FLOKI ecosystem but also allows users to earn TOKEN via the TokenFi platform.

Is Now the Right Time to Buy FLOKI?

As of the time of writing, FLOKI is trading at $0.0000308, having yielded 1.77% gains on the day. 

With the growing popularity of the staking program and the reduction in selling pressure on centralized exchanges, FLOKI’s price is poised for potential gains in the near future. Investors should keep a close eye on FLOKI as it continues its journey, with the staking program acting as a strong catalyst for its bullish trend.

Moreover, FLOKI’s robust ecosystem is playing a significant role in its traction. It consists of Decentralized Finance (DeFi) and an NFT metaverse. With this in mind, FLOKI is more than just a meme, making it a good cryptocurrency to invest in.

Furthermore, Floki’s strategic partnership with World Table Tennis represents a significant step forward in the project’s quest for global recognition and adoption. As a result, it forms a promising investment worth keeping an eye on.