FLOKI קאַנטיניואַסלי מיט פּיסק-פיואַלד ראַלי, סאָורינג 62% יבערנאַכטיק

עטהערעום-באזירט מעמעקאָין FLOKI  mooned overnight, adding 62% to its value in the space of 24 hours, according to data from קאָינגעקקאָ. 

The impressive rally kicked off after Elon Musk tweeted a picture of his dog, who is also named Floki. 

Historically, whenever Musk has tweeted about his longtime favorite cryptocurrency, Dogecoin, the original doge-inspired token, its price פּאַמפּס. ער אפילו managed to crash DOGE’s price when he incorporated his love for the דערווייַז פון אַרבעט (PoW) coin into a sketch during his appearance on Saturday Night Live קימאַט צוויי יאר צוריק. 

Today, though, Dogecoin only rallied about 2.7% after the tweet. Shiba Inu (SHIB), another doge meme parody that often rises and falls in tandem with Dogecoin, also posted a relatively underwhelming overnight rally of 4.8%. 

It may be too early to tell if FLOKI has replaced Dogecoin as the go-to memecoin to pump whenever Musk tweets about dogs, given that his latest tweet didn’t actually mention Dogecoin by name.

However, in the last 30 days, FLOKI’s price has mushroomed 418% compared to Dogecoin’s meager 7% rise over the same period. 

Floki rides the meme

Just last month Floki דאַו—a decentralized autonomous organization that takes collective decisions about the token—voted to burn (remove from circulation) almost 5 trillion FLOKI tokens, at the time worth $100 million. 

The decision had קיין פּראַל on the price or supply of FLOKI because the tokens were never part of the circulating supply. Instead, they were locked up in a cross-chain bridge linking Ethereum to BNB קייט.

They were seeded there to provide liquidity for transactions between the two blockchains. 

The decision to remove the Ethereum–BNB Chain was taken amidst heightened security concerns about cross-chain bridges, which last year were the targets of huge hacks, including the historic Ronin bridge heist, where $ קסנומקס מיליאָן was taken from crypto video game project Axie infinity.

Then in October, thieves looted $ קסנומקס מיליאָן from a cross-chain bridge called BSC Token Hub.