Elon Musk is no stranger to tweeting that pushes meme coin projects to fluctuate. Coins that emerged after the most famous dog-themed coin Dogecoin have flooded the market this year. Some respond well enough, others not so well. In the midst of all this, the community is always looking to Elon Musk, known as the “Dogefather” when it comes to investing in these tokens.
Elon Musk’s tweet raises the price of the meme coin project
While Musk’s tweets mostly influenced the biggest meme coin, Dogecoin, others were also influenced by the billionaire’s tweets. Dog-themed coin Shiba Inu is named after the famous Dogecoin dog. The coin, which was relatively unknown at the time of its creation, skyrocketed with Musk’s tweets about “buying a Shiba Inu dog.” It even recorded a growth of up to 1,500 percent in a single day. Now, other dog-themed coins are following the same trend.
cryptocoin.com As we reported, Billionaire Elon Musk tweeted several times about getting a pet Shiba Inu. Musk had long brought up the name of the pet he said he would name Floki. After that, the Doge community witnessed the launch of new dog-themed coins called Floki Inu and Shiba Floki. The price of the tokens soared after Musk tweeted that his new pet, the Shiba Inu, was coming home.
Musk welcomed Floki at his home
Musk tweeted a photo of a sleeping Shiba Inu dog with only the words “Floki has arrived”. The tweet received more than 200,000 likes and saw a significant increase in the price of the two major cryptocurrencies named Floki.
Shiba Floki (FLOKI) saw the most significant increase in price after the tweet. The dog-themed token has grown over 1,000 percent 24 hours after Elon Musk tweeted a picture of his dog. The token had lost more than 40 percent of its total value, following an all-time high it reached in July. The new interest in the dog money community after Musk’s tweet gave the token the impetus it needed to get out of its routine.
Floki Inu, another token named after Musk’s dog, has also seen a significant increase in its price. The coin saw a more than 100 percent increase in price after Musk’s tweet. This took the altcoin to an all-time high before correcting downwards.
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