The pace with which the cryptocurrency market is evolving is hard to describe in clear words. Because by the time you would witness the dust settling over the surge of a crypto token, a new obscure token would, more often than not, upstage the previous star in no time.
This is exactly what is happening to the meme coins where the latest star is the now popular meme coin — Floki Inu.
When Elon Musk tweeted an image of his Shiba Inu pet on September 13 with a caption ‘Floki has arrived’, the meme coin Floki Inu rose by 1,000 percent in mere two days.
This was the beginning of a rapid rise in the price of this meme coin. This cryptocurrency is community owned and inspired by Tesla and SpaceX boss Elon Musk’s Shiba Inu, as mentioned on Floki’s website http://theflokiinu.com.
The coin was created in August 2020 by an anonymous person known as Ryoshi.
From March this year, Elon Musk is seen to be throwing his weight behind the project. In March 2021, he tweeted ‘I am getting a Shiba Inu’. Later, he tweeted in June, ‘My Shiba Inu will be named Floki’.
Floki Inu now trades at $0.00007731 and has a trading volume of a little over $16 million. This means