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FLOKI token grew by more than 40% thanks to Elon Musk’s post
The value of FLOKI, a meme cryptocurrency, jumped by about 41% after Elon Musk posted it on Twitter. The billionaire posted a photo of his pet Floki, who allegedly solves the social network’s problems. The dog’s T-shirt reads «CEO» — the highest executive position in the company.
The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH
— Elon Musk (@elonmusk) February 15, 2023
Elon Musk’s Shiba Inu animal influenced the price of not only the FLOKI $0.0001417 FLOKI -5.43% Market capitalization $1.37 billion VOL. 24 hours $0.11 billion token, but also DOGE $0.10 Dogecoin -4.97% Market capitalization $14.94 billion VOL. 24 hours $0.27 billion and SHIB $0.00001452 Shiba Inu -5.23% Market capitalization $8.56 billion VOL. 24 hours $84.24 million . «Twitter's new CEO is incredible! He’s good with numbers! And he has a cool style!» Musk described the published photos.
Floki is an ERC-20 token based on the Ethereum blockchain. It is named after Elon Musk’s dog, so any information related to the businessman’s animal often causes Floki to grow. Currently, the cryptocurrency’s market capitalization is $ 52 million, and over the past 30 days, the token has risen by 199.7%.
Interestingly, a day earlier, photos of Elon Musk wearing a shiba-inu T-shirt appeared on the web — the billionaire came to the Super Bowl wearing clothes with the DOGE symbol. However, these images had no impact on the Dogecoin, Floki, or Shiba Inu rates.
Elon Musk wore $DOGE t-shirt at the #SuperBowl
He never misses a chance to shill #Dogecoin 🚀#DogecoinToTheMoon pic.twitter.com/VFyRcwYl2Z
— EvanLuthra. eth (@EvanLuthra) February 13, 2023
Some users took Floki’s photo as a hint that cryptocurrency payments will be introduced to the social network in the near future. Currently, the Twitter team is working on developing an architecture to launch payments on the platform. Although the payment technology will primarily focus on fiat transactions, it will be built in such a way that crypto functions can be added in the future.