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Elon Musk’s Tweet Triggered a 25% Price Surge for Viral Meme Coin FLOKI: Details

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The world’s wealthiest man – Elon Musk – is among the most influential in the crypto space, and his interactions often cause major price fluctuations for the involved assets.

Just recently, he posted an AI-generated video on X that depicts his pet (named Floki) as the CEO of the social media platform. Specifically, the clip features a dog in a tie and glasses, seated at a desk and covered with documents.

Somewhat expectedly, the meme coin Floki (FLOKI) soared immediately after the tweet. Its price has spiked by 25% on a daily scale, reaching a ten-day high. Despite the surge, the dog-themed meme coin remains outside crypto’s top 100 club, currently positioned as the 130th-biggest digital asset with a market capitalization of around $800 million.

FLOKI Price
FLOKI Price, Source: CoinGecko

This isn’t the first time FLOKI has rallied after a Musk Joke. Around Christmas time in 2021, Tesla’s CEO posted a photo on X of his dog wearing a Santa Claus outfit with a message, “Floki Santa.” The interaction caused a mindblowing surge of almost 20,000% for the meme coin’s price in the next 48 hours.

In February 2023, Musk was looking for a new CEO to take over X (formerly Twitter). To add a twist of humor to the endeavor, he described his dog Floki as “great with numbers” and placed him on the executive’s chair.

Needless to say, the meme coin’s valuation soared by double digits in a matter of minutes after the tweet.

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