Elon Musk Sends Meme Coin Named After His Pet Up 30% With His Tweet

Tesla Inc TSLA CEO Elon Musk sent another Dogecoin-inspired DOGE/USD meme coin rallying with a tweet on Monday.

What Happened: Musk posted a picture of himself and his son X with matching haircuts.

Dogecoin developer DogeDesigner commented on the post, asking the Tesla CEO to share a picture of X and his Shiba Inu puppy.

Musk obliged, posting a video of X and three of his dogs, including the Shiba Inu named Floki.


The cryptocurrency Floki Inu FLOKI/USD surged 32% over the last 24 hours after Musk first promised to upload a Floki picture. Musk’s tweet did not have any significant impact on the price of DOGE, however, with the meme coin trading 1.2% lower over the same period.

It is worth noting that the FLOKI token was first created after Musk said he planned to name his dog “Floki” in a tweet last year. Shortly after that tweet, Floki was created using the Ethereum ETH/USD token standard and rallied by 3,500%. 

Price Action: According to data from Benzinga Pro, FLOKI was trading at $0.0001694, gaining 32% against Bitcoin BTC/USD and 36% against Ethereum over 24 hours.

Read Next: Bitcoin, Ethereum, Dogecoin Lose Late-July Mojo: Crypto Could See 'One Last Leg Up' Before Things 'Get Dicey Again,' Says Analyst

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