Fans of Elon Musk made a cryptocurrency named after his dog — and it’s up 2,400 percent.
Flokinomics, a dogecoin knockoff that began trading on Sunday, was going for $0.000002254 early Wednesday, as indicated by CoinMarketCap data. While that probably won’t seem as though a great deal, it’s a 2,400 percent increment in value over the past 24 hours.
“WE $FLOKIN DID IT,” pronounced a Twitter represent the cryptocurrency.
Flokinomics is named after Elon Musk’s dog, Floki.
Floki is a Shiba Inu — the very sort of dog that fills in as the mascot for dogecoin, the “image” cryptocurrency that Elon Musk broadly advanced recently.
In the midst of publicity from Musk, dogecoin flooded from $0.06 toward the start of April to a pinnacle of $0.74 in May. The coin then, at that point, plummeted after Musk kidded about it on Saturday Night Live and is currently trading at about $0.26.
The Tesla CEO has additionally advanced another Shiba Inu-themed coin, Baby Doge. In July, Musk tweeted about the coin and its price dramatically increased.
Musk has not spoken openly about Flokinomics — however that is not halting makers and fans of the cryptocurrency from plotting for a whoop from the investor, which would unavoidably send its price taking off.
“Named after elons dog so one tweet from elon and we will moon so damn hard!!!” thought of one client on the Flokinomics Reddit forum.
“Magnificent… Making a ton off this!!” composed another.
Critics say that Musk’s propensity for self-assertively sending cryptocurrencies flying presents a risk to investors.