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‘Dogefather’ does it again: Why are ‘petcoin’ meme cryptos off the leash? ‘Dogefather’ does it again: Why are ‘petcoin’ meme cryptos off the leash?

‘Dogefather’ does it again: Why are ‘petcoin’ meme cryptos off the leash?

Several Dogecoin spinoffs surged following Elon Musk's recent tweet.

‘Dogefather’ does it again: Why are ‘petcoin’ meme cryptos off the leash?

Image by Petra Göschel from Pixabay

While the new generation of Shiba Inu dog breed-inspired cryptos continues breaking the charts, the meme coin hype unravels as an influencer-dependent, community-driven market phenomenon.

Flokinomics, one of the newer Dogecoin (DOGE) knockoff tokens, which started trading following Musk’s recent tweet, pumped another 1,008% in the past 24 hours, according to CoinGecko’s data.

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