Floki Inu (CRYPTO: FLOKI), a Dogecoin (CRYPTO: DOGE) knockoff named after Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk’s pet dog Floki, is outperforming Dogecoin, Shiba Inu and other major cryptocurrencies as of press time, early Tuesday morning.
What Happened: Floki Inu is up 18.9% during the past 24 hours, trading at $0.00006880 at press time.
The altcoin has surged 17% against apex cryptocurrency Bitcoin and also gained 19.2% against Ethereum during the 24-hour period.
See Also: How To Buy Floki Inu (FLOKI)
In comparison, Dogecoin is down almost 4% during the past 24 hours, trading at $0.2262 at press time.
Shiba Inu, a self-described DOGE-Killer, is up 13.4% during the 24-hour period to $0.00003064.
Why It Matters: The Floki Inu team is currently working on three flagship utility projects — an NFT gaming metaverse known as Valhalla, an NFT and merchandise marketplace known as FlokiPlaces, and a content/education platform known as Floki Inuversity.
Floki Inu said on Twitter that its Valhalla team released some serious game art concepts during the first edition of Floki’s weekly updates on Monday.
The first edition of #FLOKI‘s weekly updates and AMA on our NFT gaming metaverse Valhalla was
Our Valhalla team leads shared some very exciting information and released some seriously dope game art concepts.
— Floki Inu (@RealFlokiInu) October 11, 2021
Floki Inu says on its website that it is the only crypto project officially partnered with Musk’s brother Kimbal Musk’s Million Gardens Movement, with whom it is working to “tackle food insecurity.”