Saturday, April 13, 2024

How Elon Musk’s tweet resulted in a 4000% surge of the Floki token

Elon Musk’s tweets have sent various crypto tokens skyrocketing in the past. Tokens such as Shiba Inu and Dogecoin have benefited from the Tesla CEO and SpaceX founder’s tweets. Most recently, the Santa Floki coin soared by a whopping 4,000% following Musk’s tweet, which featured a photo of Floki, his pet dog.

The tweet was posted by Musk on December 25, and it featured a photo where Floki was donning a Santa costume. The post’s caption read ‘Floki Santa’ and the creators of the cryptocurrency Floki temporarily changed the crypto’s name to Santa Floki. They also tweeted in reference to Musk’s tweet and joked that they are humbled by Musk’s recognition.

As the post garnered more than a whopping 306,600 likes on Twitter, the crypto tokens value saw an increase to $0.000001718 from $0.0000000129 on December 27.

According to Floki token’s creators, the cryptocurrency is based on a particular philosophy – those who have intentions of doing good should get together and help those who aren’t fortunate. A description of the token on CoinMarketCap stated that the creators believe in wealth sharing via passive income. Additionally, the creators also want the shared wealth to be donated to Save The Children and other reputable charities.

In recent years, Elon Musk has made his interest in cryptocurrencies public. Even though Tesla doesn’t accept Bitcoin payments now, it was accepting them for some time in the recent past. Musk has also actively backed meme tokens such as Dogecoin and Shiba Inu. It will be interesting to see the cryptocurrencies that experience fluctuations in the future owing to Musk’s tweets.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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