Memecoin Floki (FLOKI) Dips 10% Despite Listing Surge

Emerging from the deep blue sea, Floki Inu enjoys the limelight in two popular Seychelles crypto platforms.

Floki mascot Shiba Inu dog with Viking horns emerging from the sea and showing sharp teeth.
  • 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’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.

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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.

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.

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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

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.