Followers of Elon Musk made a cryptocurrency named after his canine — and it’s up 2,400 %.
Flokinomics, a dogecoin knockoff that began buying and selling on Sunday, was going for $0.000002254 early Wednesday, in response to CoinMarketCap data. Whereas which may not sound like quite a bit, it’s a 2,400 % improve in worth over the earlier 24 hours.
“WE $FLOKIN DID IT,” declared a Twitter account for the cryptocurrency.
Flokinomics is known as after Elon Musk’s canine, Floki.
Floki is a Shiba Inu — the identical type of canine that serves because the mascot for dogecoin, the “meme” cryptocurrency that Elon Musk famously promoted earlier this 12 months.
Amid hype from Musk, dogecoin surged from $0.06 originally of April to a peak of $0.74 in Might. The coin then plummeted after Musk joked about it on Saturday Night Live and is now buying and selling at about $0.26.
The Tesla CEO has additionally promoted one other Shiba Inu-themed coin, Child Doge. In July, Musk tweeted about the coin and its price more than doubled.
Musk has not spoken publicly about Flokinomics — however that’s not stopping creators and followers of the cryptocurrency from angling for a shoutout from the mogul, which might inevitably ship its worth hovering.
“Named after elons canine so one tweet from elon and we’ll moon so rattling laborious!!!” wrote one consumer on the Flokinomics Reddit discussion board.
“Superior… Making a ton off this!!” wrote one other.
Critics say that Musk’s behavior of arbitrarily sending cryptocurrencies flying presents a threat to traders.