Massive pumps and high volatility are some of the characteristics of cryptocurrency. Sometimes, coin prices can go up quickly, leaving investors with massive gains overnight. Other times, a coin might experience an increase in other things apart from the price, which could be a good indication of the coin’s value. One of these things is the “trading volume.”
Trading volume refers to the value of the tokens (in dollars) traded across different exchanges and platforms simultaneously over a specific period. Usually, trading volumes are calculated over 24 hours to measure activity. If a coin experiences a consistent increase in trading volume, it can increase its market cap and result in higher returns for investors.
FLOKI’s trading volume has increased by over 300% in the last 24 hours for various reasons. If this memecoin continues like this, it might surpass Shiba in market cap and become the second biggest memecoin by market cap. Let’s see why its trading volume increased and if this is enough to knock out Shiba Inu.
Why is Floki Inu’s trading volume up?
FLOKI’s trading volume hit $101 million, up 300% over the last 24 hours. And although its price quickly spiked during the same time frame, it has stabilised a bit since then. While many investors love looking at price increases to determine if they should buy a coin or not, an increased trading volume is also a good indicator for investors, as it could point to a good buying opportunity.
Floki Inu’s trading volume is up partly because of its appearance at the Central Wutai World Table Tennis Championship. The token’s advertisement appeared consistently throughout the tennis match, showing the coin to approximately 100 million people. It appears many people decided to trade the coin later, leading to a spike in trading volume.
When a coin experiences a trading volume surge, it’s an indication that there are more buyers interested in that coin. Sometimes, an increase in trading volume can increase the price of a coin, if there are more buyers than sellers. This, in turn, will increase the market cap of that coin.
Market capitalization is a company’s total valuation, or, in this case, a crypto project’s. According to CoinMarketCap, Dogecoin is the leading memecoin with a market cap of $10.2 billion. Its contenders, Shiba and Pepe, have market caps of $5.2 billion and 570 million USD, respectively. But Floki Inu, with a market cap of $323 million, could squash both Shiba and Pepe to be second only to Dogecoin.
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Floki Inu, a Dogecoin successor, has had massive success before, so flipping SHIBA would not be difficult, especially with more people getting interested in it and buying it. But, as investors are keenly watching FLOKI to see if it would do wonders, they also have eyes on a new gaming memecoin called Pikamoon.
Pikamoon is creating a cutting-edge 3D metaverse that offers stunning visuals and immersive experiences. In this metaverse, gamers will have the chance to build their own empire, collect incredible characters, and engage in thrilling battles to rise through the ranks. The exciting part is that they can earn real money while playing the game.
Whether it’s competing for valuable NFTs or completing missions to earn the project’s native token, $PIKA, there are ample opportunities to monetize your gaming experience. Get ready for an adventure that combines gaming, blockchain, and financial rewards.
Pikamoon’s Presale
Currently, the price of one PIKA token is $0.0004, and it is expected to rise to $0.0006 by the final phase of the presale. Investing now can potentially give you a 50% increase in your investment, even before the official launch.
Crypto influencers are spreading the word that early investors in PIKA have the potential to turn their $100 investment into $5,000 once the project launches. This remarkable growth potential has caught the attention of many investors looking for high returns in the crypto space. If you’re passionate about getting rich this year, don’t miss out on Pikamoon!
Find out more about Pikamoon (PIKA):
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Twitter: https://twitter.com/Pikamooncoin
Telegram: https://t.me/pikamoonofficial
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