Memecoins Still Moon: Binance Lists $FLOKI & New ERC20 Token, $Golden, Launches ICO Pre-Sale

Meme coin rally on the horizon, it remains to be seen how this will affect the wider crypto market and whether these altcoins will continue to gain traction in the months to come. As reported by CoinGape earlier today, Binance has created seven new liquidity pools for crypto including Bitcoin, Shiba Inu, and Dogecoin in response to the growing demand for such cryptocurrencies. Moreover, emerging memecoins like Bone ShibaSwap , ArbDoge AI pumped more than 10% on news of a major exchange listing today.

Interestingly, the largest meme coin by market capitalization started its recovery and 43% holders are underwater at $0.0804, based on data from IntoTheBlock. DOGE has been the dominant meme coin, both in terms of market capitalization and in terms of holder composition. FLOKI and Shiba Inu tokens are struggling to recover with over 80% holders sitting on unrealized losses at the current price level.

  • Golden Inu, a new memecoin in the market, recently announced an expansion to the Ethereum blockchain.
  • The circulating supply of Floki tokens is exceptionally high, keeping the price per token extremely low.
  • X, Musk’s son with the singer, Grimes, was also seen playing with Floki and two other dogs in a tweet posted in August.
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  • Last year, the UK Treasury proposed the introduction of stricter rules for the financial advertising of most cryptocurrencies.
  • Outside of the Floki ecosystem, the token has few uses and has yet to be adopted by many DeFi platforms.

So far, the team has put together over $6,000 in ETH with the ICO presale. Nearly 10% of the first funding round’s available tokens have been purchased by optimistic crypto traders. The communities of both tokens are highly passionate and active on their respective social media platforms.

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On Twitter, the Floki Inu team celebrated the “massive” news that puts $FLOKI on the same trading platform as more established memecoins Dogecoin and Shiba Inu. The cryptocurrency market has witnessed an impressive resurgence in the first few months of 2023, with memecoins emerging as the outperformers over the well-established cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. The creation of these new liquidity pools is a positive sign for the meme coin market, indicating that these altcoins are gaining greater acceptance and recognition from investors. The total supply of FLOKI tokens is 10 trillion, meaning that for FLOKI to reach $1 per coin, the entire project would have a market capitalisation of $10 trillion.

Elon floki inu

While this leaves room for recovery in SHIB and FLOKI, since the expected selling pressure would be less on these meme coins, the two assets are struggling to begin their recovery. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Is Floki a real cryptocurrency?

This shift in composition of addresses holding DOGE fuels a bullish thesis for the asset since there is less likelihood of Dogecoin holdings being shed consistently by long-term investors. The character in Vikings is played by Scandinavian actor Gustaf Skarsgård. However, Elon’s Shiba Inu may not be named a Vikings character at all, many people have Tweeted that his choice of dog breed may be more relevant than Floki’s name. It’s not often that entrepreneurs on Elon’s scale Tweet the goings-on of their lives but Elon’s no stranger to Twitter and clearly enjoys revealing details of his life to his followers. Knockoffs are seeing strong gains as of Thursday night even as Dogecoin and Shiba Inu tumbled, with one coin surging more than 100%. FlokiPad says it is on a mission to make decentralized finance more secure, accessible and rewarding.

Anonymous teams are common in the world of cryptocurrency, as many developers decide to keep their identities private for various reasons, such as privacy concerns or to avoid unwanted attention. Both coins have a high token supply, which means the tokens are valued at a fraction of a cent, which can draw in newer investors looking for a cheaper coin. While many cryptocurrency enthusiasts hope that a lucky endorsement by Musk will make their investment worthwhile, the market does not always respond positively to his comments.

Elon floki inu

While there is little assurance of their lasting value, Floki Inu’s recent gains and attention suggest that this type of digital currency may have some staying power. Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available.

Dogecoin price has started its recovery with a spike in volume of traders that hold DOGE for over a year. Elon opted for a Shiba Inu which is the dog breed featured as the face of Dogecoin! There’s also a Shiba Coin in 2021, however, it’s not confirmed whether this is a cryptocurrency that Elon is involved with. Super Doge Bros says it has recreated an old classic game for the modern era with over 20 unique fast-paced levels that have increasing degrees of difficulty. The project behind the new token has announced it aims to create collections of 10,000 unique non fungible tokens .

Meanwhile, FLOKI also got listed on Binance, the world’s largest crypto exchange in terms of the trading volume. Polygon and Arbitrum blockchains witnessed a spike in their on-chain activity, in terms of active addresses, compared to April 2023. The increase in active addresses was accompanied by a spike in ARB price over the past thirty days. Avalanche price is sliding again on Wednesday as big brother Bitcoin loses ground this time. The sell-off in Bitcoin weighs on all its siblings, cousins and nephews in the crypto and altcoin space. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Twitter reacts to Elon Musk naming his Shiba Inu ‘Floki’ – meaning explored!

Products such as Floki are known as meme coins because they are launched quickly with branding that responds to popular cultural phenomena. On April 3, Musk replaced Twitter’s bird logo with the Shiba Inu— or doge — meme. Following this change, the price of dogecoin, a cryptocurrency that Musk supports, soared 20%.

Elon floki inu

The Floki token was introduced in the summer of this year shortly after Elon Musk tweeted in June that he would be buying a new Shiba Inu dog named Floki. The price of Dogecoin and its subsequent spin-offs such as Baby Doge Coin have surged in the crypto markets after the arrival of Floki. Dogecoin recorded a +0.36% change in the last 24 hours, while Baby Doge Coin recorded elon floki inu a +1.80% in the last 24 hours according to CoinMarketCap. Floki isn’t currently listed on any of the popular cryptocurrency exchanges, which obviously makes it harder to purchase and therefore less likely to go mainstream. However, this hasn’t stopped it from skyrocketing a massive 3,500 per cent in just a matter of days, so it’s really anyone’s guess at this point.

Other segments of holders, like cruisers that hold DOGE for one to twelve months, have declined sharply. It seems that any announcement from Elon https://coinbreakingnews.info/ usually results in some kind of shift in cryptocurrency value. After Elon presented SNL in 2021, the market changed when he plugged Dogecoin.

Elon Musk said he dresses his Shiba Inu, who he says is the CEO of Twitter, like Elizabeth Holmes

The strikes left 34 people injured, including three children, and caused widespread damage. Dogecoin is currently down 70 percent from its all-time high of $0.73, which it had achieved shortly before the SNL plunge. On September 12, Musk posted a photo of Floki asleep on a carpet with the caption “Floki has arrived.” Sunday night was not the first time that Musk appeared to have sparked interest in the Floki Inu token—inadvertently or not.

Golden Inu developers also indicated that the $GOLDEN token will create the ability to swap Binance-Chain and Ethereum blockchain coins on an expected $1-to-$1 basis. And in Golden Inu’s initial target audience, Latin America, the amount of exchanges that have this ability is are very few. Golden Inu, a new memecoin in the market, recently announced an expansion to the Ethereum blockchain. The presented content may include the personal opinion of the author and is subject to market condition. The author or the publication does not hold any responsibility for your personal financial loss. A team of anonymous blockchain developers created Floki Inu, and the current team driving the project have remained anonymous for various reasons.

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To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers. When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. The campaign, which told the public “it’s time to buy” bitcoin, was found to be misleading and irresponsible for encouraging people to invest in unregulated financial products.