Elon Musk-inspired Shiba Inu (SHIB) competitor rises on new crypto exchange listing

by Arthur · March 7, 2023

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

Floki Inu (FLOKI), which recently broke into the top 100 crypto assets by market capitalization, jumped from a 24-hour low of $0.00004089 to a high of $0.00004701 on the news of the listing spread – representing a 15% increase .

The rebound, which has since reverted to a 4.4% increase, came as FLOKI perpetual trade went live on DigiFinex.

“FLOKI perpetuals are 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, who was inspired of tech mogul Elon Musk’s pup, is down 12.5% in the past week, up 5% in the past two weeks and up 36% in the past 30 days.

The meme coin has currently outperformed the rest of the crypto markets by a massive margin since the opening of 2023, currently up 520% since January 1st, even after falling 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.

Also in February, the team behind FLOKI announced that they are 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.