Benzinga | Jan 22, 2022 12:40PM EST

These 2 Cryptos Named After Elon Musk's Dog Experiencing Massive Gains, Defying The Crypto Sell-off

Amid the crypto market rout, a few coins are towering tall, and two cryptos which are among the biggest gainers, are dog-themed currencies.

What Happened: NinjaFloki (CRYPTO: NJF), a gaming-based passive income-generating crypto, was seen trading with gains close to 500% on Saturday, according to CoinMarketCap. It is a relatively new crypto and was launched in 2021. It is built on the Binance Smart Chain and has a maximum supply of 100 billion NinjaFloki tokens.

Also among the gainers is Mars Floki Inu (CRYPTO: FLOKI), which has advanced over 300% over the past 24 hours. It has a maximum supply of 1,000 trillion FLOKI coins. The crypto is inspired by Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk's pet dog Floki and his quest to take humans to Mars.

Related Link: Investors Feeling The Chill Of Long Crypto Winter Ahead, Akin To '1929 Stock Market Crash': Analyst

Why It's Important: These less popular meme currencies have outperformed their more illustrious meme counterparts such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the current downturn. However, caution should be the watch word for those investors contemplating to play the volatility in these thinly-traded cryptos.

At last check, NinjaFloki was seen up 487.13% at $0.00004752 and Mars Floki Inu was gaining 321.71% to $0.000000005168.

Related Link: Bitcoin May Be Plunging Hard, But Look Who's Buying The Dip

Photo: Courtesy of Jonathan Chie on Flickr