Elon Musk’s pup drives the Floki Inu cryptocurrency soaring

Floki is called Elon Musk’s dog. (Photo: Elon Musk)

Tesla CEO Elon Musk has a new dog. On Monday he shared a photo of the Shiba Inu puppy with his Twitter followers: “Floki is here” he wrote about the puppy’s photo. As a result, the prices of meme-based crypto assets that use the Floki name rose.

Musk had already tweeted in June that he would soon get a Shiba Inu. The animal should be called Floki. On Monday, the Tesla CEO finally tweeted a picture of his new puppy – with the simple addition: “Floki is here”.

The tweet upset the crypto community in the replies and left the course of the Musk-inspired, hitherto relatively unknown cryptocurrency Floki Inu in the hours thereafter, increase 250 percent from $ 0.000017 to $ 0.000040.



Other Floki currencies are also gaining ground

Floki Inu has brought investors in since a low in July a return of 40,666 percent. That is, if you had invested $ 1,000 in the coin at the time, you would now have Floki Inu worth over $ 406,000. In the meantime, the developers of the coin had withdrawn from the project, but the project was revived a little later through donations totaling over a million dollars from the community.

Spin-offs such as Shiba Floki, Baby Flocki Inu or Babyflocki also grew rapidly in the hours after the tweet. Elon Musk has renamed his Twitter account to “Name” since Monday. A possible explanation could be that this should be an indication to pay close attention to the name of the cryptocurrency when investing in order not to fall victim to fraud.

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Shiba-Inu-Coins are Musk’s theme

Musk’s tweet was nowhere near the first time the Tesla CEO tweeted about Shiba-Inu-inspired cryptocurrencies. In 2020, Dogecoin was a recurring topic on his feed. As a result, the meme coin had grown by thousands of percent in the meantime. Musk had even declared that the meme coin, which was quasi-abandoned at the time, could one day become the world currency.

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