Floki Inu (FLOKI) soars after Elon Musk tweet, Dogecoin (DOGE) stalls

Mon 13 Sep 2021 ▪ 11h58 ▪ 2 min read — by Katie Donaldson

Floki Inu rallied 108% after Elon Musk tweeted a picture of his new puppy Floki. However, Dogecoin only recorded a small 0.36% rise in the last 24 hours.

DOGE and FLOKI were not the only cryptocurrencies to jump – Baby Doge Coin (BabyDoge), a spinoff of Dogecoin, also recorded a +1.80% in the last 24 hours.

Earlier in August, when Musk had announced that his new pet will be named Floki, Shiba Inu (SHIBA) had witnessed a 16% rise in its price when it reached $0.00000790.

Another dog-themed coin

The tweet already has more than 200,000 likes with some of Musk’s followers predicting DOGE to rise again, others asking for more pictures of his new puppy.

This is not the first time Tesla CEO’s love for Shiba Inus caused a surge in crypto prices. It’s not even the second, or third time. Every time Musk mentions cryptocurrencies, a surge (often following an eventual downfall) occurs in the prices.

Floki Inu was launched on Binance Smart Chain (BSC) on 28th June, the day Musk announced that he’s naming his new dog Floki. From that, Floki Inu was born. Liquidity is locked on both BSC and Ethereum (ETH) contracts for 265 years. A bridge links the two tokens, giving users the ability to bridge their tokens 1:1 across networks. 

FLOKI was built on Proof-of-Meme network, which rewards its users through auto-farming. 1% of all transactions are distributed to holders.

Elon Musk is back to tweeting about cryptocurrencies, taking their price for a spin. This time it’s Floki Inu.

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Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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