CandleFocus Memecoins Surge as BONK Leads Rally; Floki Gains Recognition as a Utility Token
2024-12-21
Author: Content Editor
In a recent rally, Solana-based meme coin BONK led the surge among dog-themed tokens, as Bitcoin also experienced a recovery. BONK saw a 30% increase, while Dogecoin, Shiba Inu, Dogwifhat, and Floki Inu saw gains of up to 20%. Dog-themed tokens, on average, saw an 8% increase in value over the past 24 hours, outpacing the overall market's 4.5% rise. Floki, a utility token, was recognized by the U.S. CFTC during a meeting focused on providing clarity for digital asset markets. Floki's growing ecosystem, including a metaverse game called Valhalla, supports its classification as a non-security commodity. Efforts to reduce the token supply of BONK have also gained momentum, with plans to burn a trillion tokens in December. This could potentially increase the token's value due to scarcity.
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