Floki Inu Leads Meme Coin Surge

In the dynamic world of cryptocurrency, meme coins are making significant strides, with Floki Inu seeing a remarkable 17% increase over the last 24 hours. This surge is closely tied to the re-emergence of the infamous meme influencer Roaring Kitty, also known as Keith Gill or DeepFuckingValue, who was pivotal in the 2021 GameStop short squeeze.

The meme coin market seems to react sharply to Roaring Kitty’s online activity. Following a 12-hour silence, the market cooled, only to heat up again once he resumed tweeting. Recently, he made a comeback after three years, posting a series of cryptic videos on Twitter, which has evidently ignited interest in meme coins once more.

The official Floki Inu Twitter account has attributed its recent success to Roaring Kitty’s return, highlighting the coin’s deep roots in meme culture and its status as a leading memecoin. Interestingly, despite a cryptic video from Roaring Kitty hinting at “the dog days are over”—which many interpreted as a pivot towards cat-themed coins—Floki Inu has surged ahead. In the last 24 hours, it has outperformed several major non-dog coins such as Popcat, cat in a dog’s world, and Pepe.

Another factor contributing to Floki Inu’s performance is a recent DAO proposal that was approved for the burning of 15,246,000,000 FLOKI tokens, valued at approximately $3,386,773. Token burning reduces the circulating supply while demand remains constant, which can lead to an increase in value, although this is not guaranteed.

Among the top meme coins, only GME, a tribute token for GameStop, and Apu Apustaja, a variant of Pepe the Frog, have outperformed Floki Inu in the past day, with increases of 34% and 19%, respectively.

Conclusion: The resurgence of Roaring Kitty has proven to be a boon for the meme coin sector, particularly for Floki Inu. As the market continues to respond to influencers and strategic moves like token burning, it becomes clear that meme coins are not just playful assets but also significant players in the crypto market. The unfolding dynamics offer a fascinating glimpse into the influence of social media on cryptocurrency values.