After Shiba Inu (SHIB) saw a phenomenal 28 per cent price increase in 24 hours this week, all the other major dog meme-based coins also rallied. What’s going on in meme coin world? Does it have anything to do with Elon Musk? Of course it does.
Let’s check out the meme coin Floki Inu (FLOKI) to see how its stock is fairing amid the doggy coin price surge, and also see how new project Logarithmic Finance (LOG) plans to enter the fray with just as much impact as any meme coin ever did.
Dogecoin (DOGE) was created back in 2013 as a kind of a joke to poke fun at the crypto world. Its price has seen some spectacular growth since then, making many millionaires along the way. At one point in early 2001, after some positive tweets from Elon Musk and Snoop Dogg, the price of DOGE rose by 2100 per cent in a period of three months.
He was at it again this week while speaking at the Qatar Economic Forum. “I intend to personally support Dogecoin.” (Cue massive surge in the price of Dogecoin)
Unsurprisingly, the phenomenal success of DOGE has inspired many dog meme-based spin-off coins, hoping to ride on the coattails of DOGE and shoot for the moon.
One of the most recent incarnations that fit this category is FLOKI.
FLOKI — The hottest meme right now?
One criticism of meme coins is that they lack proper usage in the real world, and rely on popularity and buzz alone to force price surges. FLOKI is fashioning itself as a meme coin with genuine utility.
Launched in 2021, FLOKI has shown steady growth by introducing an NFT and merch marketplace, an NFT metaverse and a content education platform.
FLOKI metaverse is called Valhalla is making major waves in the gaming industry. The other dog-based meme coins have hesitated to dip their toes into the metaverse, and so FLOKI could be said to now be a serious rival to DOGE and Shiba Inu (SHIB).
The price of FLOKI is up 2.69 per cent in the last 24 hours. Now could be a great time to get on board with this one.
LOG — Revolutionising the DeFi world
LOG is set to revolutionise the DeFi world. Currently at the pre-sale stage, LOG is attracting a lot of attention due to its unique swapping protocol. LOG will allow for NFT auction functionality for its holders, meaning NFTs can be swapped in exchange for other cryptocurrencies.
The layer three protocol supports an interoperable, peer-to-peer multi-chain platform that links DeFi projects with prospective investors. Some decentralised exchange protocols have been criticised for lack of flexibility due to being tied to one blockchain. LOG will be interoperable across an array of major blockchains, including Avalanche, Polygon, Binance Smart Chain, Solana and Tezos. Both the crypto projects mentioned above have a very high potential for major gains in the coming months. Follow the links to get on board.
Learn more about LOG
FLOKI website: https://www.floki.com/