Woof! Why Dogecoin, Shiba Inu, and Floki Inu Are Barking Higher Today
For cryptocurrency investors, this rally is starting to look at lot like 2021. Investors in a range of meme tokens are seeing impressive surges in today's session, with Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB) and Floki Inu (CRYPTO: FLOKI) among the most-watched tokens today. As of 2:45 p.m. ET, these three dog-inspired meme coins surged 7.4%, 12.1%, and 68.7%, respectively, over the past 24 hours.
Now, these three meme tokens still have a way to go to achieve their previous all-time highs. But Floki Inu's incredible surge today puts this lesser-known meme token within striking distance, with another day of similar gains potentially driving this top-60 crypto project to new highs. Accordingly, with so much speculative capital flowing into this sector, investors are increasingly looking at meme tokens as a way to play this trend (given their increased volatility compared to mega-cap tokens).
Let's dive into what's driving these three meme cryptos higher, and whether this move is sustainable.
Source Fool.com
