This P2E Coin Named After Elon Musk's Pet 'Floki' Is Up Over 200% Today

Dogecoin DOGE/USD and Shiba Inu SHIB/USD traded muted on Wednesday evening after the U.S. Federal Reserve indicated it could start raising interest rates as soon as March.

However, some of the knockoff coins are seeing strong gains, with NinjaFloki NJF/USD up 212% during the past 24 hours to $0.000009156.

What Happened: NinjaFloki has gained more than 210% each against Bitcoin and Ethereum. The coin is the second biggest gainer among all cryptocurrencies during the past 24 hours, as per CoinMarketCap data.

NinjaFloki, In Numbers:

• 24-Hour Performance: +212.2%
• 7-Day Performance: -82.6%
• 30-Day Performance: +505.4%
• YTD Performance: +315.5%

Floki is the name of Tesla Inc. TSLA CEO Elon Musk's pet Shiba Inu dog.

For comparison, Dogecoin is down 0.9% during the past 24 hours, trading at $0.1416 at press time. Shiba Inu, the self-described “Dogecoin killer,” has lost 1.3% over the 24-hour period to $0.00002073.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: NinjaFloki describes itself as a gaming-based passive income generating cryptocurrency that rewards its holders in Binance USD.

The project behind the token says it is continuing to work on game development and recently shared the demo of its first play-to-earn game.

Read Next: Dogecoin Planning A Transition To Proof-Of-Stake; Ethereum's Vitalik Buterin Is Helping