"Floki has arrived," dogefather Elon Musk tweeted a while back and another 'speculative' crypto game has kicked off.
It all began when in June-end Musk tweeted that the name of his Shiba Inu would be 'Floki'. It led to multiple Floki-themes coins emerging in the crypto market.
Floki Inu, which is ranked the highest among all the Musk-inspired Floki tokens, more than doubled after Musk's tweet.
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Another crypto, Shiba Floki, which has also seen zero volumes on a lot of days lately, is up nine times in the past 24 hours. It has also seen a trading volume of around a million dollars in the same time frame.
Both the Floki-themed coins are hyper-deflationary coins that reward the holders for every transaction that takes place on the network. Shiba Floki owners get a 5% commission and as a result more Shiba Floki coins get added to the holder's wallet. The same is the case with Floki Inu.
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Not only the cryptos, but there is also a growing demand for the Japanese Shiba Inu breed of dogs because of Musk and Dogecoin.