FLOKI Joins SHIB as Top Traded Crypto as Whales Double Down

Floki seeks to become the top dog, but Ethereum whales are not giving up on Shiba Inu.

A girl is holding two Shiba Inu puppies, while Floki cartoon dog stands aside and wants to join the fun.
  • The emerging memecoin Floki surges 335% in a month to enter the TOP 100.
  • Whales on Binance Smart Chain (BSC) are ardently accumulating FLOKI.
  • Rival canine coin Shiba Inu (SHIB) leads among the largest ETH whales.

The rapidly growing canine coin Floki (FLOKI) entered the TOP 10 by global market cap overnight, as the heaviest whales on Binance Smart Chain (BSC) are actively racking it up. The horned Viking dog-themed crypto surpassed Polygon (MATIC), Filecoin (FIL), and fellow memecoins Dogecoin (DOGE) and Shiba Inu (SHIB).

Indeed, the fresh competitor of Shiba Inu (SHIB) and the top dog crypto Dogecoin (DOGE), made a name for itself after Elon Musk’s announcement that the Shiba Inu mascot dog is the new CEO of Twitter. While the satirical tweet from The Dogefather was beneficial for all three dog-themed tokens, Floki got the most out of it, as “Floki” is the only name visible in the contract.

Floki Clinches #99 Spot Amid Listing Surge

Floki (FLOKI) had an impressive monthly bull run with 335% gains, with another 62% boost after Elon ‘Chief Twit’ Musk posted the viral message. In recent weeks, Floki has been accepted by two major crypto exchanges, both headquartered in Seychelles. With KuCoin now trading FLOKI against USDT (Tether) and USDC (USD Coin), OKX offers a wider range of Floki trading, including savings, perpetual, and futures.

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Floki made its first-ever entrance into the TOP 100 by securing the #99 spot. At the time of publication, Floki is priced at $0.00004978, according to CoinGecko. Despite a market correction sending Floki down by 10% right after KuCoin’s listing, FLOKI is back to winning, with 8.1% in the green for the last 24 hours. On top of that, the rapidly-growing memecoin just reached the milestone of over 44,000 holders on Binance Smart Chain (BSC) & Ethereum (ETH) combined.

Ethereum Whales Still Loyal to Shiba Inu

In contrast to the largest whales on BNB Chain, the TOP 2000 whales on Ethereum (ETH) are racking up Shiba Inu (SHIB) amid the news that Shibarium Beta is due to launch next week. According to whale data tracker WhaleStats, a colossal amount of $645,792,778 SHIB is currently being held across the whale accounts on Ethereum (ETH) network.

At press time, the #15 ranked Japanese Kabosu dog-themed crypto trades at $0.00001314, according to CoinGecko. Despite many developments regarding Shiba Inu’s Ecosystem, the canine coin dropped by 4.4% in the last seven days, likely due to dissatisfaction from part of the SHIB Army, as the Valentine’s Day Shibarium promise turned out empty.

On the Flipside:

  • Currently, crypto data analysis tool IntoTheBlock indicates four bearish signals for Shiba Inu (SHIB).
  • These include a decline in Net Network Growth, Large Transactions, and fewer people making a profit at the current SHIB price.

Why You Should Care:

Memecoins often lead bounceback rallies for alternative cryptocurrencies.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.