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Floki Inu is up 17% in the last 24 hours as meme coins continue to rumble.
The meme coin market seems to be tied to Roaring Kitty's tweets. During the 12-hour period, the market cooled. But since the account started sending messages again, meme coins are booming again.
Roaring Kitty (also known as Keith Gill and DeepFuckingValue) was a key figure in the 2021 GameStop short press, which caught the attention of the Internet. He was silent for almost three years but a few days ago he came back and posted several secret videos on Twitter.
The official Floki Inu Twitter account says the recent success is directly related to this statement, “Floki has always embraced meme culture, positioning itself as one of the leading memecoins in the crypto industry.
However, it's interesting to note that Floki is leading the pack when Roaring Kitty's video says “dog days are over.” Many believed that this was a call to invest in cat coins. But Floki the Inu, a coin for Elon Musk's dog, has surpassed most non-dog coins in the past 24 hours — including PopCat, a cat in a dog world, and Pepe.
There is one other factor that explains why Floki Inu is outperforming the rest of the meme coin market. The recently approved DAO proposal allows 15,246,000,000 FLOKI tokens ($3,386,773) to be burned. Flaming tokens are often a sign of the brutality of projects, because while the circulating supply decreases and the demand remains the same, the price of the token usually increases – although this is not always the case.
The only top meme coin tokens to outperform Floki Inyun in the past 24 hours are GME, GameStop's tax token up 34% and Apu Apustaja, another variant of Pepe the Frog, up 19% over the past day.
Edited by Stacy Elliott.
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