These 2 Cryptos Named After Elon Musk's Dog Experiencing Massive Gains, Defying The Crypto Sell-off

Amid the crypto market rout, a few coins are towering tall, and two cryptos which are among the biggest gainers, are dog-themed currencies.

What Happened: NinjaFloki NJF/USD, a gaming-based passive income-generating crypto, was seen trading with gains close to 500% on Saturday, according to CoinMarketCap. It is a relatively new crypto and was launched in 2021. It is built on the Binance Smart Chain and has a maximum supply of 100 billion NinjaFloki tokens.

Also among the gainers is Mars Floki Inu FLOKI/USD, which has advanced over 300% over the past 24 hours. It has a maximum supply of 1,000 trillion FLOKI coins. The crypto is inspired by Tesla, Inc. TSLA CEO Elon Musk's pet dog Floki and his quest to take humans to Mars.

Related Link: Investors Feeling The Chill Of Long Crypto Winter Ahead, Akin To '1929 Stock Market Crash': Analyst

Why It's Important: These less popular meme currencies have outperformed their more illustrious meme counterparts such as Dogecoin DOGE/USD and Shiba Inu SHIB/USD in the current downturn. However, caution should be the watch word for those investors contemplating to play the volatility in these thinly-traded cryptos.

At last check, NinjaFloki was seen up 487.13% at $0.00004752 and Mars Floki Inu was gaining 321.71% to $0.000000005168.

Related Link: Bitcoin May Be Plunging Hard, But Look Who's Buying The Dip

Photo: Courtesy of Jonathan Chie on Flickr