This Dogecoin Knockoff Named After Elon Musk's Pet Dog Is Up 800% Today

The price of a Dogecoin-inspired cryptocurrency, Flokinomics FLOKIN/USD, named after Telsa Inc. TSLA CEO Elon Musk’s pet dog Floki, is surging more than 800% as of Monday night.

What Happened: Flokinomics, which calls itself the “best rebase token known to man,” is up 811.8% over the last 24 hours, trading at $0.00000002611 at press time.

It is also up 719.2% against apex cryptocurrency Bitcoin BTC/USD and gaining 736.4% against Ethereum ETH/USD during the past 24 hours.

The altcoin, which operates on the Binance Smart Chain platform, attained a trading volume of $3 million within a span of 24 hours.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: The gains by Flokinomics come after the project behind the new token, which is less than one day old, announced on Twitter that the cryptocurrency has been listed on CoinMarketCap and CoinGecko.

@FlokinomicsCoin So proud of my Little Floki. 1500+ people in VC On launch, $3M Volume in 24 Hours. CMC Listed in under 3 Hours & CG within 24 Hours. Billboards, BTOK & Celebs Coming soon. FLOKINOMICS To The Moon #Flokinomics #Floki #ElonsFloki pic.twitter.com/jNtH9u5gS5

— CryptOmar (@crypt_omar) October 4, 2021

The coin was also able to capitalize on the spike in the price of Dogecoin knockoffs after Musk tweeted a photo of his dog Floki.

The coin is the biggest cryptocurrency gainer during the last 24 hours, as per CoinMarketCap data.

Read Next: It's A Doggie-Dog World: Dogecoin Leads The Major Crypto Pack Above Bitcoin, Ethereum; Shiba Inu Tops List Of Gainers