When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. Website I Twitter I Discord | What is Floki:įloki began with a tweet from Elon Musk. The meme went viral in the 2010s and has continued to resurface even years later. The meme coin's mascot is Furie's Pepe, a cartoonish frog with a green humanoid body that first appeared in the 2005 comic Boy's Club. The meme coin was launched in stealth, with no presale, no taxes, no LP burnt, and no contract renounced. Pepe is a new meme coin that competes with the existing Doge meme coins. Elon Musk, the CEO of Tesla, has also played a role in promoting dog coins on Twitter, further fueling their rise in popularity.ĭespite the risks associated with meme coins, the trend shows no signs of slowing down, with many investors willing to take on the risk for the potential rewards. Meme coins, which are often created as a joke or a parody, have gained popularity in recent months, with many investors looking to cash in on the trend. Many will however be hoping that the meteoric rise we have already seen can be replicated. Whether we will see similarly drastic moves remains unknown, the space is in a vastly different moment than it was back then. What followed was even more impressive as Coinbase went on to list $SHIB and consequently catapulting its market cap from over $2 billion to over $40 billion in just over a month. The market cap growth quickly enjoyed a huge rise pumping from $1 billion to over $13 billion in a matter of days. In May 2021 Binance listed $SHIB, a memecoin that took the space by storm. Ethereum is the second-largest cryptocurrency platform, and its gas fees have been known to fluctuate in response to demand. The listing of these two coins has also led to a surge in gas fees on Ethereum, with fees hitting a one-year high. PEPE, based on artist Matt Furie's Pepe the Frog, has surged 1,000% in value over the past week, with its market capitalization crossing the $1 billion mark. Since their listing, both coins have seen a significant increase in value. Traders interested in entering the innovation zone must answer two questions about trading risk before being allowed to participate. Pepecoin ( $PEPE) and Floki ( $FLOKI) are the latest tokens to join the trend of meme coins, which have seen a surge in popularity in recent weeks.
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