The meme token Shiba Floki has surged by 990% in the past 24 hours, thanks to an Elon Musk tweet
The Shiba Floki (FLOKI) token has recorded gains of 990% in a single day with the price currently trading at $0.0000000309 at the time of writing. The meme coins have taken the cryptoverse by storm and like the Dogecoin token, many have embraced the bull run reaching sky-high prices. In a market where it’s increasingly difficult to differentiate between similar coins, FLOKI has got its name right and many new investors have joined the FLOKI bandwagon yesterday.
How & where to buy Shiba Floki in the UK and elsewhere
The crypto markets are currently saturated with so many broker/exchange platforms and as a new user, you may find it difficult to identify and select the right trading site. We have shortlisted two of the best platforms where you can register easily and start trading quickly. The decentralised exchanges are not very safe as these are not regulated.
To open a new account, you will need to provide a username, password and email address. Then, proceed to account verification by submitting proof of identity and address. Once done, simply deposit funds and start trading. All platforms provide customer support in case you get stuck and need help.
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
What is Shiba Floki and why is it rallying?
Shiba Floki allows users to earn a passive income by redistributing 5% of the transaction fees to all holders. It also plans to carry out charity activities and has a strong marketing team that has enabled the coin to establish itself as one of the leading meme coins.
The bull run in FLOKI is because of the Musk effect. Elon Musk had tweeted yesterday, “Floki has arrived”. This was enough to propel the Shiba Floki token to the moon. Most meme tokens have tried to cash in on the rising popularity of Shiba Inu theme based tokens.
Should I buy FLOKI today?
The price for such meme tokens is ridiculously low but these tokens tend to rise and fall quickly in response to rumours and news. However, if Dogecoin can reach for the moon, so can FLOKI. The early adopters could be looking at handsome gains if the price of FLOKI rises in the future. The price is currently very low but the coin could possibly 300X or 1000X from the current levels if Musk decides to tweet again.
This article is informational only—none of the contents should be construed as financial or investment advice.