Elon Musk's Confession Sends Dogecoin Knockoff Soaring — These Memecoins Also Rise

Bone ShibaSwap BONE/USD was up 34% in the last seven days, outperforming the top five meme coins by market capitalization. 

What Happened: The rise in BONE can be attributed to the much-anticipated layer-2 blockchain Shibarium, which is speculated to launch next week.

Shytoshi Kusama, the pseudonymous developer of Shibarium, confirmed the launch on the Telegram channel.

The second on the list is Dogelon Mars ELON/USD, trading at $0.0000004511, up 9.27% in the past week.

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The rise in ELON’s price comes after Twitter Chief Elon Musk on Wednesday demonstrated his ability to put all canine-themed coins in the green with a single tweet. In a tweet on Wednesday, Musk revealed that he "let the Doge out," referring to the meme coin Dogecoin CRYPTO: DOGE).

Shiba Inu SHIB/USD was third on the list, up 0.13%, trading at $0.00001312. Dogecoin rose 1.2%, failing to reach the $0.90-mark, trading at $0.084. 

Floki’s FLOKI/USD rally has cooled down after surging more than 100% last week. FLOKI was down 18% in the last 24 hours, trading at $0.00005067. An analyst at Kunji, a crypto asset management platform, told Benzinga that the chart of FLOKI is looking very attractive.

“Looking at the long-term and short-term moving averages, the price is expected to move higher in the upcoming days. We’ve also noticed a golden crossover of 50 and 200 days moving averages on Jan. 23, since then the price is moving higher.”

The analyst said that “Floki’s near-term support can be seen at $0.00003830 and resistance at $0.00006700, breaking these levels can impact the price on the further explosion on either side.”

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