China's Growing Interest Fuels Floki Inu Trading Volume Spike

Floki Inu (FLOKI), a cryptocurrency inspired by the Shiba Inu dog breed, experienced a notable surge in trading volumes.

On Sunday, May 28th, FLOKI's value experienced a boost of over 10%, accompanied by its highest trading volumes in more than three weeks.

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Trading volumes leaped from the previous week's average of $25 million to over $60 million. This rise coincided with advertisements for the Floki Inu game in several Chinese sports tournaments, sparking speculation that this might draw new traders from China.

Floki Inu developers noticed the rising Chinese interest, as many China-based members joined their social media groups.

As previously reported, Floki Inu had announced its intent to target the Chinese market to grow its user base for the Valhalla game. According to developers, both traditional and simplified Chinese translations of the game's content and technical documents will be available to cater specifically to the Chinese gaming market.

It is worth noting that it is believed that in the coming weeks, the interest from Chinese investors will only grow. On June 1st, Hong Kong will permit the trading of select tokens, including Bitcoin, Ether, and Solana, on regulated crypto exchanges.

Despite China's firm stance on cryptocurrencies, multiple cities are working on boosting the Web3 industry. Recently, Beijing introduced a roadmap for Web3 innovation and growth.

At the time of writing, Floki Inu (FLOKI) retails for $0.0000334, recording a 2.37% increase in the last 24 hours.