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Shiba Inu Rival Floki Inu Listed by Biggest Brazilian Exchange

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Fri, 12/05/2023 - 20:46
Shiba Inu Rival Floki Inu Listed by Biggest Brazilian Exchange
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The Shiba Inu rival Floki Inu (FLOKI) has been listed on Mercado Bitcoin, the largest and most respected cryptocurrency exchange in Brazil, according to a Friday announcement.  

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The cryptocurrency's official account celebrated the listing, noting Mercado Bitcoin's substantial user base of over 3.8 million. This development underscores the continuing adoption of the meme coin and the broader growth of the meme coin market.

Floki Inu is a cryptocurrency inspired by the popular Dogecoin and its successor, Shiba Inu. It was created by members of the Shiba Inu community and is named after the dog of Tesla and SpaceX CEO Elon Musk. Musk's tweets about cryptocurrencies have been known to influence the crypto markets, and his mention of getting a Shiba Inu puppy named "Floki" in 2021 sparked interest in the newly created Floki Inu coin.

It is considered to be a "meme coin," a type of digital currency that started off as a joke or meme but has since gained a following and achieved value in the crypto marketplace.

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In addition, the exchange also listed Pepe Coin (PEPE), another meme coin inspired by the internet-famous Pepe the Frog. The coin has experienced monstrous price gains to massive hype, but it has since lost 65% of its value. Mercado Bitcoin cited Pepe Coin as a significant driver of the current "meme coin season," highlighting its substantial growth over the past two months.

The addition of these meme coins to Mercado Bitcoin's platform demonstrates the growing acceptance and mainstream adoption of such tokens. With over 3.8 million users, Mercado Bitcoin's listing provides these coins with increased visibility, potentially leading to higher trading volumes and price appreciation.

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