Here we go again! Musk Promotes Coin: Up 900%
He did it again: Elon Musk has once again promoted a digital currency. And that coin rose by a whopping 900%.
We mainly know Elon Musk as a Tesla CEO, but also as an avid Twitterer. And on Twitter he often talks about cryptos. Whether it’s about Bitcoin or a new meme token, he and the coin will get attention anyway. He has now done that again. He shared a photo of a Shiba Inu puppy, saying, “Floki has arrived” to his 59.8 million Twitter followers. Of course, the tweet impacted the price of a few specific meme-based crypto assets that use the name “Floki”.
Well, new. In any case, a relatively unknown coin to many of us. The guy has been a fan of Dogecoin (DOGE) for a while now. He couldn’t help but tweet a reference to other meme-based dog coins on a few occasions in the past. Musk referred to “baby doge” in a tweet and in a video shared on Twitter, Musk said “daddy doge” as he was escorted to his car. At the time, there were more than 30 doge-style coins that shared either the name “doge” or the type of dog “Shiba Inu”.
Past On Sunday, Elon Musk tweeted about the arrival of a new puppy and happily tweeted: “Floki has arrived.” That was a few days ago, but it’s all the more interesting to see what the effect of the tweet was on the share price.
Effect
Musk promotes a currency, and hatsikidee goes up the price. Sharing an adorable Shiba Inu puppy photo in a tweet from Musk has impacted the price of at least two specific crypto assets. For example, in a few days, the token Shiba Floki (FLOKI) rose in value as much as 969.5%. The FLOKI token is trading at $0.000000006177 per unit at the time of writing. FLOKI is considered a “community-owned” meme currency. And the website says the token is “hyper-deflationary”. There are more, but suddenly this coin is in the spotlight. The coin’s data shows that a quadrillion FLOKI tokens have been created and the tokens have been transferred to 18,847 addresses.
