The meme coin dogecoin (DOGE) holds a special place in the hearts of many crypto investors. The project has grown in popularity over the past year and a huge amount of dogecoin clones have hit the market. One of the clones is Floki Inu (FLOKI).
Floki Inu
Floki Inu launched on the Binance Smart Chain (BSC) on June 28. This was just days after billionaire Tesla CEO Elon Musk announced that his new Shiba Inu dog would be named Floki. He already announced in March that he planned to adopt such a dog much to the excitement of the dogecoin community.
My Shiba Inu will be named Floki
— Name (@elonmusk) June 25, 2021
Elon Musk and dogecoin have been around for months inextricably connected. Elon Musk has a huge influence on the project and regularly speaks highly of the meme coin. As a result of these statements, the price of dogecoin exploded with some regularity. Of course the many dogecoin clones such as Floki Inu followed this trend.
Floki Inu is a deflationary cryptocurrency it runs according to a unique proof-of-meme consensus model. Obviously the project is based on a joke, or meme, and its real use cases hard to find. At the moment, the meme coin is only available on Uniswap and PancakeSwap, though the team has plans to list it on the larger centralized exchanges as well.
Floki has arrived
Elon Musk has now received his long-awaited new pet. Floki the Shiba Inu dog officially owns the eccentric Musk. Musk made this known by sharing a photo of the dog on Twitter.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Name (@elonmusk) September 12, 2021
This caused the Floki Inu crypto community to explode. Following the photo of the dog Floki, Floki Inu’s price rose by more than 100%.
The dogecoin community was less impressed with Floki’s photo. Dogecoin rose just a mere 5% before finally dropping back down.