Elon Musk-Inspired Shiba Inu (SHIB) Competitor Rises on New Crypto Exchange Listing

A Shiba Inu (SHIB) and Dogecoin (DOGE) rival is bouncing after earning new support from a popular Korea-based crypto exchange.

Floki Inu (FLOKI), which recently broke into the top 100 crypto assets by market cap, jumped from a 24-hour low of $.00004089 to a high of $.00004701 as news of listing spread – representing a 15% increase.

The bounce, which has since retraced to a 4.4% increase, came as FLOKI perpetual trading went live on DigiFinex.

“FLOKI perpetuals is live on DigiFinex!

You can now trade FLOKI with up to 100x leverage on the DigiFinex exchange!

DigiFinex has also listed a FLOKI/USDC pair to make Floki more accessible to users of their exchange!”

FLOKI, which was inspired by tech mogul Elon Musk’s puppy, is down 12.5% in the last week, up 5% in the last two weeks, and up 36% in the last 30 days.

The meme coin has currently outrun the rest of the crypto markets by a massive margin since the opening of 2023, currently up 520% since January 1st, even after a dip from local highs.

According to Binance’s Trending Altcoin list, Floki Inu was one of the fastest-rising coins last month.

Last month, Dubai-based crypto exchange Bybit revealed that it added support for Floki Inu perpetual contracts with up to 12.5x leverage.

Related:  DOGE Signals Price Resurgence, Is It Time to Buy the Dip?

Also in February, the team behind FLOKI announced that it is teaming up with the Venus Project, the second-largest decentralized finance (DeFi) ecosystem on the BNB Chain. The collaboration will allow FLOKI holders to use their coins as collateral to borrow other crypto assets.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergey Nivens/REDPIXEL.PL

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