Cryptocurrency named after Elon Musk’s dog surges 2,400 percent
Fans of Elon Musk made a cryptocurrency named after his dog — and it’s up 2,400 percent.
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Flokinomics, a dogecoin knockoff that started trading on Sunday, was going for $0.000002254 early Wednesday, according to CoinMarketCap data. While that might not sound like a lot, it’s a 2,400 percent increase in value over the previous 24 hours.
“WE $FLOKIN DID IT,” declared a Twitter account for the cryptocurrency.
Flokinomics is named after Elon Musk’s dog, Floki.
Floki is a Shiba Inu — the same kind of dog that serves as the mascot for dogecoin, the “meme” cryptocurrency that Elon Musk famously promoted earlier this year.
Amid hype from Musk, dogecoin surged from $0.06 at the beginning of April to a peak of $0.74 in May. The coin then plummeted after Musk joked about it on Saturday Night Live and is now trading at about $0.26.
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