Floki Shiba Meme Token Garners Top Social Signal Following Multiple Catalysts

Several factors contributed to the sudden rise in popularity of the Floki Shiba network.

By
Utulu Hope
on
July 9, 2021
Category:
BSC News

Floki Shiba Achieves Remarkable Social Signal Status 

Floki Shiba has achieved top Social Signal position, according to the dApp.com metrics . The Binance Smart Chain (BSC) has witnessed some much-needed spark in its ecosystem in the past few days as several micro-cap tokens experienced a significant surge.

Tokens like XWG have shown immense growth and prominence lately. The Floki Shiba meme token has achieved a remarkable feat by becoming the number one token on ‘Social Signal’ by a wide margin. 

Source

What is Social Signal?

Social Signal is a new metric on dApp.com that shows the general popularity of a particular project. In essence, projects with high Social signals have captured the most interest on social networks. The Social Signal status on dApp.com is updated once every three days. It's not often that new projects achieve this feat on the BSC, making Floki Shiba’s rise quite impressive.


Multiple Catalysts Behind Floki Shiba’s Popularity on the BSC Network 

Several notable events can be attributed to the meme token’s Social Signal status on dApp.com. First, the community-owned marketplace announced its BTOK censorship on the 7th of July via Twitter. BTOK is China’s leading blockchain and cryptocurrency news website. Taking China’s population into consideration, Floki Shiba will receive exposure to billions of people.

On the same day, Floki Shiba reported on Twitter that its Decentralized Exchange (DEX), which includes a Swap feature, is almost complete and ready for launch. 

Billionaire CEO Elon Musk also had a considerable part to play in the token’s popularity.

Musk was quoted on Twitter, “My Shiba Inu will be named Floki” on the 25th of June.

The past turn of events, particularly with Dogecoin, indicates how far his Tweets can boost the adoption of a crypto asset. Floki Shiba, in response to Musk’s Tweet, took to Twitter on the 6th of July to appreciate his impact following the $FSHIB trending token status on CoinMarketCap. 


What is Floki Shiba?

Source

Floki Shiba ($FSHIB) is a deflationary coin designed to become scarce over time. Users get more $FSHIB automatically by holding the token in their wallets. In essence, token holders receive a 5% fee from every transaction on the protocol’s network. 


Conclusion 

With their imminent DEX launch and recent listing on BTOK, Floki Shiba has become another premier protocol to tap into BSC’s offerings. According to HC - Capital, a crypto research and trading platform, Floki Shiba competes with PancakeSwap, Binance, and FEG Token when it comes to projects with the highest trading volumes in the last 24 hours as of writing. Again, this success can be attributed to the catalysts discussed in this article. Floki Shiba is now a top name in the BSC ecosystem, and users should look forward to witnessing its long-term progress.

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He hodls mostly in Ethereum, BNB, and, Avax.

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