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Summary
- Floki is a relatively unknown coin with an unknown market cap and a current price of US$0.00000155.
- The fact that Floki is a fringe cryptocurrency with only a small number of holders is what makes it so volatile and subject to significant rises and falls.
- There are currently 2,334 holders of Floki coin and there have been approximately 9,000 transactions thus far.
The world of crypto news has been taken up by Bitcoin and Ethereum with mentions of Dogecoin.
But now, a new meme-coin has come along to take a bit of the spotlight on the back of some Elon Musk tweets.
The History of Floki Coin
Like a handful of other altcoins, Floki’s sudden price boost can be attributed to bitcoin and Dogecoin enthusiasts, Tesla (NASDAQ:TSLA) CEO and founder, Elon Musk.
Source: © Hutchinsphoto | Megapixl.com
Floki is a relatively unknown coin with an unknown market cap and a current price of US$0.00000155. It is so unknown that one cannot but it in any major cryptocurrency exchange.
Things took a turn for the obscure altcoin on 25 June 2021 when Elon Musk sent out a tweet saying he would be naming his new Shiba Inu dog, Floki.
Musk’s tweet also saw the price of the altcoin, Shiba Inu, increase 25% in the space of a few hours and the price of Floki jump an astronomical 3500 per cent.
Details of Floki
Not much is known about Floki, but there are currently around one trillion coins in circulation.
There are currently 2,334 holders of Floki coin, and there have been approximately 9,000 transactions thus far.
According to the Floki website, the creators hope to reach 3,000 holders by next month. By August, they hope to have 10,000 holders.
The website says the creators also hope to branch out into online influencer marketing, but with Elon Musk’s latest tweet and the resulting price surge for Floki, the creators may have already achieved this.
The Volatility of Fringe Coins
The fact that Floki is a fringe cryptocurrency with only a small number of holders is what makes it so volatile and subject to significant rises and falls.
Dogecoin, which is much larger than Floki, has seen massive price shifts as a result of external events.
This year has seen Dogecoin experience some considerable jumps as a result of some Elon Musk tweets.
However, in May, the price of Dogecoin dropped following Musk’s appearance on Saturday Night Live, wherein a sketch, he called Dogecoin “a hustle”.
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