Memecoin Floki (FLOKI) Dips 10% Despite Listing Surge

• Floki, DOGE, and Shiba Inu’s mascot was crowned the new CEO of Twitter.
• Emerging memecoin Floki fetched 95.6% gains since Musk’s tweet.
• KuCoin opened trading pairs for Floki on February 17th, 2023.

The suddenly emerged dog-themed cryptocurrency Floki (FLOKI) enjoyed a great bull run to reach $0.00005255 on February 16th, one day after Elon Musk declared Floki Inu’s mascot dog the new CEO of Twitter. Following the announcement, popular crypto exchanges like KuCoin and OKX revealed plans to list the meme token, significantly increasing Floki’s trading volume.

#Floki continues to trend among the hottest cryptocurrencies on #KuCoin days after its listing!$FLOKI is currently the second most searched #crypto on KuCoin — right after $ETH and above $BTC, $AGIX, $KCS, $DOGE, $SHIB, and $BNB. https://t.co/t8anUFxrUE pic.twitter.com/mLUpNdF2Jl

— FLOKI (@RealFlokiInu) February 19, 2023

Floki’s Moment to Shine

Recently, Floki Inu became the second-most searched cryptocurrency on KuCoin. Since the listing of FLOKI/UST and FLOKI/USDC pairs, the canine coin ended up in the Gem Box, but the crypto exchange’s metrics also reveal that 63% of whales are selling.

Now, the 113th by global market cap canine coin is ready to cross swords with rivals Shiba Inu (SHIB) & Dogecoin (DOGE), as Floki (FLOKI) recorded bigger weekly returns of 97.9%, compared to SHIB’s 6.2% and DOGE’s 7.2% gains in the last seven days. 

At press time, the Viking horn dog-themed cryptocurrency trades at $0.00005255, dropping by 10% in the last 24 hours, according to CoinGecko. Ultimately, with 50,755 Telegram members, the Floki Inu community is among the fastest growing in crypto and already receives recognition from two major Seychelles-based crypto platforms.

Perpetuals has been enabled for #Floki on OKX!

This means you can know trade (long/short) $FLOKI on @OKX with up to 75x leverage.

This further legitimizes $FLOKI and shows that many leading exchanges now see it as a mature asset. https://t.co/QE7ALAn1Vz

— FLOKI (@RealFlokiInu) February 20, 2023

On The Flipside:

• Many Dogecoin (DOGE) fans on Crypto Twitter are disheartened by Elon Musk’s promotion of rival Floki (FLOKI). One prominent member of the DOGE Army remarked: “Just remember that Elon is trying to support DOGECOIN and these other dog tokens won’t pump, nor be relevant when #dogecoin is implemented into Twitter.”
• Floki is also accused of being a scam by several crypto traders, with allegedly 90% of the tokens controlled by the developers. In contrast, other crypto enthusiasts predict Floki’s “dump is imminent.”

Why you should care:

Memecurrencies often attract retail investors and generate social mentions for blockchain technology.

Learn more about the latest developments in memecoins:

Shiba Inu (SHIB) Main Developer Issues Shibarium Invitation

Dogecoin (DOGE) Foundation Member Sounds Alarm Over BUSD Mess