- Elon Musk's penchant for dog-themed cryptocurrencies has led to a surge in the price of the one named after a dog he recently acquired.
- Floki Inu has increased 170% since Musk revealed his dog Floki arrived, with Shiba Floki up 268%.
He is known to shake up the markets in the cryptocurrency world, and it seems that even when he has no intention of doing so, he is exercising still a great power in the market. Elon Musk is the originator of the spike of a little-known cryptocurrency named after his dog. A recent update on the dog, whose name is Floki, sent a token with a similar name on a teardrop, increasing 168% in one day.
Musk, also known as "Imperator of Mars," presumably for his exploits with SpaceX, is the biggest voice in the cryptocurrency market. Although he has taken back for this , and even attacked Bitcoin for its consumption of energy, its market power remains.
This was best seen in late June when after announcing that he would get a new dog named Floki, a cryptocurrency that was immediately launched on the Binance Smart Chain under the name Floki Inu. It defines itself as a "community-owned coin, created by fans and members of the Shiba Inu community".! He is hyper deflationary and designed to reward you, so more Floki Inu coins are added to your wallet with every trade. ”
Floki Inu and Shiba Floki see huge payouts
And today , Musk tweeted that Floki (the dog, not the cryptocurrency) had arrived. It was all ammowhich the token needed to soar.
Floki Inu rose from a low of $ 0.00001641 to an intraday high of $ 0.00004065. It has since retracted slightly and is trading at $ 0.00003095. Its trading volume grew an astounding 1,702 percent to $ 29.9 million in the last day.
Floki Inu wasn't the only new cryptocurrency that benefited from the arrival of Musk's dog. Shiba Floki has seen even higher gains. In the past 24 hours, the same coin increased 257% to trade at $ 0.00000000002052.
Shiba Floki also works on the Binance Smart Chain. It describes itself as "a descendant of the father of the Dogecoin meme ", and more specifically, "a hyper-deflationary sub-coin with a built-in smart sharing system so that every investor gets more shibafloki added to their wallet " .
Musk, qIt is also called the "Technoking of Tesla ", not accidentally influencing the cryptocurrency market for the first time. Now it seems like every time he tweets, some cryptocurrency project or another finds a way to partner with him and soar. Whether these tokens can sustain those winnings is another question.