The popular meme-inspired cryptocurrency – FLOKI – spiked around 41% after Elon Musk uploaded a photo of his dog dressed as the new Chief Executive Officer of Twitter.
Other memecoins, including DOGE, SHIB, and BABYDOGE, also headed north albeit in a more modest fashion.
Tesla’s CEO and one of the wealthiest people on the planet – Elon Musk – knows how to flirt with memecoins. In his latest tweet, he displayed his pet signing documents that he is the new boss of Twitter.
The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH
— Elon Musk (@elonmusk) February 15, 2023
He later put glasses on his dog, adding it “has style” and is “great with numbers.”
Keeping in mind that the Shiba Inu breed is named Floki, it is no wonder why the price of the dog-themed digital asset – FLOKI – skyrocketed. Currently, it trades at $0.00002959, representing a 41% increase compared to yesterday’s figures.
Musk previously vowed to appoint a new CEO of Twitter as the main condition for the upcoming leader is to be “foolish enough.” The crypto community was quick to react, saying his pet could perfectly fill the position.
Other tokens, such as Dogecoin (DOGE) and Shiba Inu (SHIB), also climbed following Musk’s actions. The former is up nearly 6%, while the latter rose 5%.
This is not the first time the South African billionaire has prompted a price expansion of memecoins. He dressed his dog in a Santa Claus outfit on Christmas 2021, while community members used the opportunity to introduce a new coin called Santa Floki (ticker: HOHOHO).
It surged by nearly 19,000% in the next 48 hours before plunging shortly after.
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