Elon Musk’s Tweet Sends Dogecoin, Floki and Shiba Inu Meme Coins Soaring

The prices of meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) have gone up after Elon Musk, the CEO of Tesla, posted a meme on Twitter featuring his dog Floki as the new boss of Twitter.

Summary:

• $DOGE has risen by 5.4% over the last 24 hours, while $FLOKI has gone up by over 40%.
• The $FLOKI team previously reduced the transaction tax to 0.3% and introduced a burning mechanism to reduce its supply.

FLOKI, SHIB, and DOGE in January

• DOGE and SHIB have also spiked by over 5%.
• A previous report that said Twitter is designing a system to permit crypto payments sent DOGE price soaring.
• SHIB developers are working on the launch of the project’s layer-2 network Shibarium.
• $56 million worth of Shiba Inu (SHIB) got stored in 12,000 new wallets in 3rd week of January, according to blockchain analytics firm Nansen.
  • This led Nansen to label SHIB as the most popular coin for beginners.

What is FLOKI?

• As per CoinMarketCap, Floki (FLOKI) is the people’s cryptocurrency and the utility token of the Floki Ecosystem. It is a cryptocurrency birthed by fans and members of the Shiba Inu (SHIB) community and is inspired by (and named after) Elon Musk’s Shiba Inu.
• “The community calls itself the “Floki Vikings” in honor of Floki (Musk’s dog) that was named after a Viking character.”

This article is published on BitPinas: Elon Musk’s Tweet Sends Dogecoin, Floki and Shiba Inu Meme Coins Soaring

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.