As Elon Musk Tweets About Dogecoin, Is The Rally In 'Floki' Coins Over?

Tesla Inc. TSLA CEO Elon Musk’s recent tweets about Dogecoin DOGE/USD may have helped boost the meme cryptocurrency’s price but Dogecoin knockoffs named after Musk’s pet dog Floki have fallen after recent strong gains.

What Happened: Flokinomics FLOKIN/USD, which calls itself the “best rebase token known to man,” fell 25% over the last 24 hours to $0.0001439 at press time.

The new token, which is just over a week old, also lost 26.1% against apex cryptocurrency Bitcoin and tumbled 28.5% against Ethereum during the 24-hour period.

PrinceFloki (CRYPTO: PrinceFloki), a rebase token with DOGE rewards, has fallen 22.5% over the 24-hour period to $0.000000000317.

Floki Inu FLOKI/USD, which calls itself “the third biggest meme coin” after Dogecoin and Shiba Inu, has lost 6.9% during the last 24 hours to $0.00007108.

See Also: How To Buy Floki Inu (FLOKI)

Meanwhile, Baby Floki Coin BABYFLOKICOIN/USD is a notable exception, with the altcoin up 53.9% over the 24-hour period to $0.000000005053.

For comparison, Dogecoin is down 1.1% during the last 24 hours, trading at $0.2338 at press time.

Why It Matters: Dogecoin surged on Thursday after Musk sent out some tweets related to the Shiba Inu-themed coin, including approving Dogecoin co-creator Billy Markus’ call for DOGE nodes to be upgraded.

Dogecoin adoption has surged this year and the meme cryptocurrency can now be spent at 1704 merchants, it was reported in September, citing CryptWerk data.

The cryptocurrency’s year-to-date gains are an impressive 4004.5%.

Read Next: Ethereum Strikes Gains Against Bitcoin, Dogecoin But Apex Coin Whales Seem To Be Prepping For Long-Term Hodling