Bitcoin, SHIB, DOGE Crashed: That Meme Coin Exploded

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Thursday evening’s correction, which plunged the price of Bitcoin to $38,560.45 in about eight hours, resulted in 24-hour losses of up to 10% across the market. Meme coin leaders Dogecoin and Shiba Inu bleed the most among the top 20 cryptos, with weekly losses of 20.21% and 17.51% respectively. In this article, let’s take a look at what happened on Mars Floki Inu (FLOKI), which exploded over 300% in the same period.

FLOKI surpasses SHIB and DOGE

The Mars Floki Inu (FLOKI) is trading at $0.000000000914 at the time of writing, up 322.32% (CMC) in the last 24 hours. The meme token has gained more than 120% against Bitcoin and Ethereum, also surpassing the ATH level of $0.00000000082, which it touched on Dec. 30, by almost 10%. For comparison, Dogecoin is down almost 7% in the last 24 hours and is trading at $0.1518 at the time of writing. Shiba Inu, which describes itself as the “Dogecoin killer”, dropped more than 8% to $0.00002527 in the 24-hour period.

Why is the meme coin priced in?

Mars Floki Inu says he was inspired by electric car giant Tesla. Tesla CEO Elon Musk’s pet, named Floki, is a Shiba Inu dog and claims to combine the power of the breast with genuine benefit and philanthropy. Launched on Binance Smart Chain (BSC), the token announced in December that it will be listed on various exchanges such as HotBit, XT.com, and Gate.io.

The imminent development affecting the price is its addition to the CoinMarketCap list, which prompted the rapidly fading hype.

Mars Floki Inu (FLOKI) announced on December 2, 2021 that it will go on sale on BSC.