What’s Happening with Dogecoin and its Shiba Inu Competitor Floki Inu?

Floki Inu, a meme cryptocurrency that is a rival to Dogecoin and Shiba Inu, has seen a 24.5% drop in its value since its peak on Monday. This fall is attributed to profit taking by investors after the crypto was listed on Binance. Floki Inu was created after Elon Musk tweeted that his Shiba Inu dog would be named “Floki.” This resulted in the crypto community creating a cryptocurrency with the same name, along with many copycats. On Monday, the cryptocurrency saw a surge in social media engagement, with LunarCrush reporting a 356% increase in social engagement within a 24-hour period.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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