The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $22,733.52 and BTC market dominance is %. The price of Ethereum is $1,581.99 and ETH market dominance is %. The best performing cryptoasset sector is Liquid Staking, which gained 13%.
FLOKI pumped over 40% in price alongside a DOGE and SHIB pump of over 5% following Elon Musk’s meme about his dog Floki.
Cover art/illustration via CryptoSlate
The three leading meme coins — Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) — rallied higher following Elon Musk’s meme declaring his dog, Floki, the new CEO of Twitter.
FLOKI rose roughly 42% following Musk’s tweet to $0.00003 as of press time. The trading volume of the meme coin increased by 290% in the last 24 hours.
Developers of the meme coin introduced a burning mechanism in January designed to reduce its supply. The team also reduced the Floki transaction tax to 0.3%.
Meanwhile, the project developers have introduced new features to the meme coin’s ecosystem, like the metaverse game Valhalla, to encourage more adoption.
DOGE and SHIB spiked by over 5% to $0.08630 and $0.00001294, respectively, according to CryptoSlate data.
DOGE had risen by over 5% on Feb. 13 after Musk made a humorous tweet about it.
On the other hand, SHIB developers are working on the imminent launch of the project’s layer-2 network Shibarium.
Meanwhile, this is not the first time a tweet from Elon Musk would sway market sentiments. Since Musk’s Twitter acquisition, there have been growing speculations about the role cryptocurrency would play on the social media platform.
Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.
CryptoSlate’s latest market report dives deep into Bitcoin on-chain data suggesting that the bear market might be coming to an end.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Dogecoin is a cryptocurrency created in December 2013 as a joke by software engineers Billy Markus and Jackson Palmer.
Shiba Inu (SHIB) is a decentralized meme token that aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. According to SHIBA INU, the reasoning behind the creation of SHIBA is that Shibas constantly forget where they bury their treasure.
Floki (FLOKI) is the people’s cryptocurrency and the utility token of the Floki Ecosystem.
South African-born Elon Musk has founded several companies, including X dot com (which later became PayPal), SpaceX and Tesla Motors.
Twitter, Inc is an American social media company based in San Francisco, California that was founded by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and was launched July of the same year.
The classification of XRP in the US could broadly impact the classification of other altcoins as securities.
FLOKI pumped over 40% in price alongside a DOGE and SHIB pump of over 5% following Elon Musk’s meme about his dog Floki.
Peter Schiff pointed out that Kevin O’Leary and Mark Cuban were crypto-skeptical at one time.
Hoskinson fears the US SEC might lump all staking protocols together “due to a fundamental misunderstanding about the actual facts of operation and design.”
The regulatory leader said that staking rules will protect investor funds.
‘Britcoin’ wallets will face an initial cap of between £10-20k.
XRP, FIL and OP have the largest estimated locked value with $17.9 billion, $4.9 billion, and $3.7 billion, respectively.
FTX funded FUD against Binance and the impact of AI in crypto were discussed during a recent Twitter AMA with the Binance CEO.
Roughly $50 million of SBF’s deposit has been seized by prosecutors – Alameda invested $11.5 million earlier in the same bank.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2023 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy
Please add “[email protected]“ to your email whitelist.
Stay connected via
source
Source: Cryptoslate.com
