FLOKI token grew by more than 66% thanks to Elon Musk’s post

The value of the meme cryptocurrency FLOKI jumped by 66.1% in a day 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 has influenced the price of not only the FLOKI token, but also DOGE $0.07 Department Of Government Efficiency -4.36% Market capitalization $70.34 million VOL. 24 hours $0.92 billion and SHIB $0.00001873 Shiba Inu -1.37% Market capitalization $11.04 billion VOL. 24 hours $0.13 billion . «Twitter's new CEO is incredible! He is good with numbers! And he has a cool style!» Musk described the published photos. Currently, the cryptocurrency’s market capitalization is $ 147 million, and over the past 30 days, the token has risen by 412%.

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.

A few days ago, photos of Elon Musk wearing a shiba-inu T-shirt appeared on the Internet — the billionaire came to the Super Bowl wearing clothes with the DOGE symbol. However, these images had no impact on the price of Dogecoin, Floki, or Shiba Inu.

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.