Elon Musk Makes A Joke About FLOKI, Its Price Flies Tremendously

As per the latest market trends, the trading price of FLOKI, a meme-based cryptocurrency has recorded a major boost.

The crypto market data shows that the asset’s price has been pushed up significantly and it is all thanks to Elon Musk.

FLOKI Price Shoots Up by 41%

As per the on-chain data analytics, the trading price of FLOKI has been pushed up by 41%. It is mainly due to the recent input and comments made by Elon Musk, one of the most influential social media figures.

The surge for FLOKI was recorded as Elon Musk jokingly uploaded a picture of his dog in a unique manner.

The billionaire and the owner of the CEO had reportedly dressed up his dog as Twitter’s new CEO. For the common followers, it would have been a joke but for the crypto followers of Musk, it was a strong sign.

The billionaire has a history of teasing the meme coins every now and then. Whenever he jokes about a meme coin, it means that he is going to make promising announcements for the respective token.

As he uploaded the picture of his dog, the meme coin followers flocked to support the new FLOKI token.

Major Meme Coin Prices Shot Up

FLOKI was not the only token that benefited from Elon Musk’s recent joke. Other prominent meme coins were also seen taking advantage of the trend.

Other major meme coins such as BABYDOGE, SHIB, and DOGE, also benefited from the trend. The trading prices for these tokens recorded huge gains and their prices went up significantly.

The picture showed his dog wearing an official suit and signing documents. Although it was meant to be a token, it ended up increasing the excitement among crypto investors.

With more and more investors joining the trend, the rally got stronger, and the asset price went up. It continued growing stronger in value over time and for FLOKI, it was a 41% price surge.

Why FLOKI Benefited the Most

Although all major meme coins recorded strong gains, it was FLOKI whose gains were the strongest.

Therefore, the main question here is, why did the FLOKI token gain the most amount of price surge? It was mainly because the dog Elon Musk owns belongs to the Floki breed.

Surprisingly, the Shiba Inu symbol has the Floki breed displayed in it. Therefore, it was the FLOKI token that benefited the most from Elon Musk’s joke.

This is the reason why the trading price of FLOKI has experienced a major boost. As per the price analysis data, the price of FLOKI has recorded a 41% surge, which has pushed its price to a high of $0.00002959.

Just a few months back, Elon Musk revealed that he would be hiring a new CEO for Twitter. This is because there was a lot of backlash from the investment and Twitter community due to his feud with former Twitter employees.

He jokingly said that his dog is going to fill in the spot perfectly as the new CEO of the company. The entire community was quick to react to the comments he made.

Gains Recorded by Other Meme Coins

The market data shows that other meme coins such as Shiba Inu and Dogecoin also demonstrated strong gains. However, their rallies were nowhere near the strong rallies achieved by FLOKI.

The trading price of SHIB recorded an almost 6% surge following Musk’s comments. On the other hand, the trading price of DOGE surged by 5% following the same scenario.

This is not the first time Elon Musk is pumping up the trading price of a meme coin. He has a habit of pushing the trading prices of the meme coins with his comments.

It was back in 2021 when Musk did something similar to another meme coin named Santa Floki. Even in that scenario, Musk had his dog dressed as Santa Claus.

It ended up pushing the token’s price by 19,000%, only to see the price of the token decline in the later days.