As traders bet heavily on Floki’s FLOKI/USD China-focused push for its Valhalla metaverse game, the meme cryptocurrency’s trading volumes have reached over $98 million, surpassing Shiba Inu SHIB/USD in the process.
What Happened: SHIB’s trading volume hit $86 million within the last 24 hours, as of the time of writing.
The recent surge in Floki’s trading volumes may be attributed to the prominent display of ads for its Floki game during Chinese sporting tournaments. Some speculators have postulated that this move could potentially draw new traders from China to affirm the token’s growth.
Why It Matters: Floki’s developers have noted a sharp increase in the presence of Chinese-based community members on their social media groups following the push toward targeting the Chinese gaming market.
Price Action: At the time of writing, FLOKI was trading at $0.00003323, up 1.53% in the last 24 hours, according to Benzinga Pro.