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

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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.

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