The price of the Meme Token Floki (FLOKI) rose over 10% on Sunday. The Floki Metaverse game saw the highest trading volumes in a long three-week period with the arrival of a China-focused move for Valhalla.
Meme Token Floki Price and Transaction Volume Rise
Transaction volumes of tokens inspired by the Shiba Inu dog breed have exceeded $60 million from the $25 million average last week.
Although currently losing some of yesterday's profits, there may still be bullish potential in FLOKI. Because experts state that there will be a Chinese wind in the crypto money market in the coming period.
FLOKI, which saw $.3716 levels yesterday, is currently trading at $.333 levels.
This increase was due to the advertisements of the game Floki appearing in some Chinese sports tournaments. This may have caught the attention of some speculators, who hypothesized that this move could attract new investors from China.
We've gotten an influx of Chinese traffic today due to the CCTV-5 feature, and we want to remind you that $FLOKI is strategically positioned for Hong Kong and China opening up to crypto.
Below is our "China Plan", which highlights our strategy for China:https://t.co/Zn7NDGdQ6q
— FLOKI (@RealFlokiInu) May 28, 2023
The developers of Floki said in a tweet that they saw an influx of China-based community members in their social media groups.
Floki previously stated that he was targeting China in his latest move to attract more users for the Valhalla game.
The developers added that the game's content and technical documentation will be available in both traditional Chinese and simplified Chinese, and they are specifically targeting the Chinese game market.
The "Chinese rhetoric" caught the attention of some on Twitter ahead of the lax laws on individual trade in Hong Kong and have pushed up the prices of some Asian-focused tokens like Conflux (CFX) in the past few weeks.
From June 1, Hong Kong will allow investors to invest in some tokens such as Bitcoin, Ethereum and Solana on regulated exchanges in the country.
Investors are not allowed to hold any stablecoins, but this move has fueled the feeling that wealthy Chinese speculators may soon be pouring money into the crypto markets.
*Not investment advice.
