Floki Inu leads the way as Meme Coins rides the blazing kitty rally.

Floki Inu is up 17% in the last 24 hours as the meme coin continues to boom following the return of infamous meme influencer Roaring Kitty.

The meme coin market appears to be correlated with Roaring Kitty tweets. The market cooled during his absence for 12 hours. However, as the account started sending messages again, meme coins are skyrocketing once again.

Roaring Kitty (aka Keith Gill and DeepFuckingValue) captured the internet’s attention as a key figure in the 2021 GameStop short squeeze. He remained silent for three years, but returned a few days ago and posted a series of cryptic videos on Twitter.

official Floki Inu Twitter account It claims that its recent success is directly related to its statement: “Floki has always embraced meme culture and has established itself as one of the leading memecoins in the cryptocurrency industry.”

However, it is interesting to note that Floki is leading the way with the growling cat video. Called “The days of being a dog are over.” many believed It was a request to invest in Catcoin. However, Elon Musk’s coin for dogs, Floki Inu, has outperformed most of the top non-dog coins in the last 24 hours, including Popcat, Cats of the Dog World and Pepe.

There is another factor that could explain why Floki Inu outperforms the rest of the meme coin market. The recently approved DAO proposal authorized the burning of 15,246,000,000 FLOKI tokens ($3,386,773). Token burns result in a decrease in circulating supply while demand remains the same, often resulting in an increase in the value of the token, but this is an optimistic sign for the project, although this is not always the case.

The only top meme coin tokens to surpass Floki Inu in the last 24 hours are GameStop’s tribute token GME, which is up 34%, and Apu Apustaja, another Pepe the Frog variant, is up 19% over the past day.

Edited by Stacey Elliott.