Elon Musk: That Billionaire Elon Musk’s comments have the power to influence the cryptocurrency market, everyone already knows. But now it’s moved on: now it’s even up to Tesla’s owner’s dog, Floki. The pet is named after a new digital asset that has risen nearly 2,000% since its inception, according to monitoring site CoinMarketCap.
Derived from the name of the Elon Musk mascot, the currency Flokinomics (FLOKIN) is traded on BinanceSmartChain. The platform is a kind of parallel blockchain, as an alternative to Ethereum, but cheap and fast, with some interesting features, such as using assets from different chains.
According to data released on Saturday (9) by CoinMarketCap, FLOKIN had a total trade of US$2.8 million (which equates to almost R$16 million) and a value increase of 1455% in the past 24 hours. This places it at number 2,872 in the overall ranking of cryptocurrencies by market capitalization and as the “best rebase token ever seen by men,” according to the site.
The characteristic of the symbolic rebase of working with a flexible stock, with a variable supply depending on the price, and also the image of the puppy, eventually resulted in a cascade effect of valorization in other cryptos inspired by dogs. The first, Dogecoin, has a Japanese dog Shiba Inu as its symbol.
The second most profitable currency after FLOKIN, a spin-off of sorts from Dogecoin, gained 400% in the week following Musk’s Twitter post. On Thursday (7), it hit its peak, the cryptocurrency that hit its highest all-time high in five months and (guess it) is called… Shiba Inu, the SHIB.