The Floki Inu coin's price skyrocketed after a mention by Elon Musk on Twitter. It seemed as if the Tesla founder's pump power had faded and his recent remarks regarding Dogecoin or Bitcoin no longer had any effect on the crypto market. But apparently the opposite is true.
Just by mentioning his dog Floki, named after a character from the TV series Vikings, Musk managed to encourage investors to buy a coin of the same name, Floki Inu (FLOKI), and the token's price surged by 20% in about an hour.
Floki pic tomorrow— Elon Musk (@elonmusk) August 1, 2022
Floki Inu is a clone of already well-known memecoins Dogecoin (DOGE) and Shiba Inu (SHIB), but with a bias toward the Viking theme. These tokens, originally invented for fun, are now actively being used as a means of payment, and some of them are even working on their own DeFi infrastructure.
What is the Floki Inu (FLOKI) project?
Floki Inu is not a little-known project and spends a lot of effort on its own promotion. For example, the famous boxer Tyson Fury appeared in a T-shirt with an image of a dog wearing a Viking helmet, the symbol of the project. The project itself is actively engaged in advertising, putting up banners all over the world, from the U.S. to London to Turkey and dealing with major crypto exchanges to get listed.
Among other things, the Floki Inu team yesterday unveiled the first in-house DeFi protocol project under the FlokiFi wing, Project L. While FlokiFi is the entire project ecosystem, Project L. is a crypto locker solution that allows it to lock and invest assets in the ERC20, BEP20 and ERC-1155 networks.