Meme Crypto Named After Elon Musk's Pet Jumps 5% Amid Dogecoin, Shiba Inu Slide After Roadmap Reveal

Floki FLOKI/USD is up 5% in the last 24 hours, beating the top five meme coins by market capitalization.

What Happened: At the time of writing, FLOKI was trading at $0.000045. Dogecoin DOGE/USD was down 3.65%, trading at $0.084 and Shiba Inu SHIB/USD at $0.000012 down 4.66% in the last 24 hours.

The Tuesday evening surge in FLOKI's price is the result of the recent unveiling of its 2023 roadmap, which detailed some of its major forthcoming projects, such as launching on OKC, DeFi Lending and Borrowing, and Staking. 

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

FLOKI will integrate DeFi protocols to provide lending and borrowing facilities to FLOKI holders. “With this integration, FLOKI holders can access loans in stablecoins or popular cryptocurrencies by using their FLOKI tokens as collateral, thereby allowing them easy access to liquidity without having to sell their tokens,” a blog post by Floki read.

Last week, Twitter Chief Elon Musk sent Floki rallying after posting a photo of a dog, presumably his pet Shiba Inu, assuming the role of "new CEO" of the microblogging site. 

Read Next: Bitcoin, Ethereum, Dogecoin Slide Amid Rate-Hike Anxiety: Analyst Says 'Avoid Emotions, Trade Prices'

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsTop StoriesMarketsMoversTrading IdeasdogecoinElon MuskFlokiShiba Inu
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...