Floki Crypto Price Soars, Outperforming Dogecoin & SHIB This Year!

Floki Crypto Price Soars, Outperforming Dogecoin & SHIB This Year! 

Recently, the latest dog-based memecoin to join the market has been making big buzz in the community, outperforming some of its bigger competitors like the popular Dogecoin (DOGE) and Shiba Inu Coin (SHIB) within the first 2 months of 2023 so far.

FLOKI Surges +400%!

According to data from CoinGecko, Floki Inu’s price spiked by a whopping 430% over the past 30 days, rising to a market cap of $602 million at the time of writing. This would mean that the new memecoin outperformed Dogecoin and Shiba Inu Coin, which had both only boasted a 4.1% and 24% rise in price within the last 30 days.

One of the biggest factors for Floki’s big jump in price this month was thanks to the influence of Tesla CEO and former Twitter CEO Elon Musk.

The billionaire had posted a meme involving his dog Floki posing as the new boss of Twitter on Feb. 15th, sending the memecoin inspired by his pet to skyrocket in price within the past week. In just the past 7 days, the Floki memecoin saw its price surge by up to 150%.

Related: Blur Escalates NFT Royalties Battle Against OpenSea In Latest Policy Update! 

Burning Millions Of FLOKI

Another reason for all the hype and buzz around Floki recently could also be due to the teams decision to burn millions worth of FLOKI tokens to reduce transaction fees as well as grant additional security to users.

By February 9th, the team announced that they had burned over $120 million worth of FLOKI through a bridge token burn. This attracted the interest of multiple crypto whales to have made mass purchases of the coin, causing FLOKI to become one of the top 10 picks for Ethereum whales, according to WhaleStats. 

Related: Pro Gamer Wins #1 Spot In Yuga Labs’ Dookey Dash, His Prize Is Worth $3.7M!

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