Sunday, June 23, 2024

The reasons behind Floki’s growing popularity

Floki Inu, commonly referred to simply as Floki, is a cryptocurrency that’s similar to cryptocurrencies such as Dogecoin and Shiba Inu. This meme coin was lurking in the shadows until September 13, when one Elon Musk tweet changed its fortunes forever. After Elon Musk’s ‘Floki has arrived’ tweet, where he shared a picture of his pet Shiba Inu with his followers, the value of Floki skyrocketed by a whopping 1,000%. This increase in value took just two days to happen.

The cryptocurrency dates back to August 2020, when an anonymous person called Ryoshi created it. From early 2021, SpaceX and Tesla boss, Elon Musk, has provided signs that he is backing the project. For example, he tweeted that he was getting a pet Shiba Inu in March 2021. In June 2021, he sent out another tweet where he mentioned that his pet Shiba Inu would be called Floki.

The current Floki stats

At this point in time, a single Floki Inu token costs around $0.00007731, and its trading volume is more than $16 million. So, it’ll not even cost you $8 to buy 1,00,000 tokens. On October 18, the value of each token saw a 24 percent rise, and that too in only 24 hours. Sure, there are no guarantees in the long run about how much the increase in the value of Floki Inu will be.

However, if you take a look at the recent trends, there’s good reason to be optimistic. For example, in the August 1 – October 15 period, the token’s value jumped by a staggering 1200%.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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