[FLOKI](https://coinmarketcap.com/currencies/floki-inu/), the novel token of the Floki ecosystem, has spiked by approximately 390% since the start of 2023, data from cryptocurrency price tracker CoinMarketCap showed.

The cryptocurrency has benefited extensively from the [crypto](/news/article/uk-crypto-atm-raided-by-financial-regulator) market's rebound this year after the entire sector plunged to new lows on the back of a bearish outlook in 2022 that saw many firms reduce their headcounts. 

While some analysts have attributed the price spike to industry-wide gains, the increase in the [token's](/news/article/robotera-metaverse-token-presale) value is largely down to accomplishing milestones and setting up new ones.

## Floki price jumping as a result of the roadmap 

On 21 February, the crypto company published its [roadmap](https://realflokiinu.medium.com/floki-2023-roadmap-8532b29ad63b) for the year. While the first phase, which featured the launch of the project’s shop, a partnership with Binance Pay, an upgrade of the Valhalla Website, the development of a Chinese Whitepaper, and a partnership with Pyth Network has been completed, other developments are still in progress.

These milestones include the launch of the crypto asset on the OKX chain (which also houses the well-known cryptocurrency exchange OKX), integration with decentralized finance (DeFi) lending and borrowing protocols, the first major upgrade of Floki Finance, and the first phase of staking.

The second phase of staking, the redesign of Floki Finance, and the release of the Debit Card will come off in phase two, while Floki Finance Project TL and University of Floki (phase three) and Valhalla Mainnet launch, Valhalla Chinese Version, and the project's Mystery Project will follow accordingly in phase four.

In crypto, prices are normally driven by the adoption of a cryptocurrency by a mainstream company as a payment method, the addition of a coin or token by a major exchange, and the provision of staking services, which brings passive income to traders and investors.

Since the digital currency has triggered two of the three price drivers (staking and exchange listing), it explains why it reached a yearly high of $0.00006684 on 16 February. 

## FLOKI price gains dwarf Shiba Inu and Dogecoin

While Dogecoin (DOGE) and Shiba Inu ([SHIB](https://coinmarketcap.com/currencies/shiba-inu/historical-data/)) continue to dominate the meme-inspired digital currency sector of the crypto economy, their gains are smaller than the coin named after [Elon Musk’s](/news/article/elon-musk-twitter-dogecoin) pet. 

While FLOKI holders have seen their portfolios rise more than three-fold, (SHIB) has increased by 8% while [DOGE](https://coinmarketcap.com/currencies/dogecoin/) has gone up by 20% since 1 January.


price chart in green with the floki inu logo of a dog and helmet on

Floki Price Jumps More than 300% Year-to-Date 

It looks like Elon Musk has done it again. A seemingly innocuous three-word tweet from the Tesla and SpaceX founder saw a spike in the value of little-known Floki.

Musk simply shared a picture of his new Shiba Inu puppy with the caption “Floki has arrived”. Sweet sentiment, but the tweet went viral and spikes in the value of cryptocurrency with similar names were soon recorded.

The biggest winner was Shiba Floki which saw a 958.09% surge within one day of the tweet, according to reports.

## Floki Token Increase

Floki Inu witnesses increases in excess of 59% in a 24-hour period. Others, including Floki Shiba and Super Floki, also saw value rises.

It is not the first time a tweet from Musk has apparently impacted on markets; comments around Dogecoin and Bitcoin have seen values change.

Dogecoin prices also seemed to be affected by the Floki tweet. Perhaps this is unsurprising as the tweet featured a picture of a Shiba Inu dog. Dogecoin gained by 0.36% following the latest post from Musk, while Baby Doge Coin saw a 24-hour surge of 45.3%

## Shiba Inu Rises

Previous tweets from Musk have had a similar impact on Floki-related cryptocurrencies. Last month, when he said he would name his new pet Floki, Shiba Inu saw a 16% price rise.



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