Elon Musk is not on his first try! Voluntarily or “unknowingly of his own free will”, the quirky American inventor is influencing the prices of certain cryptos! So, as many already know, Elon Musk is a strong supporter of Dogecoin. But this time the head of Tesla and Space X unleashed other cryptos, albeit related to DOGE…
After the dog, Elon Musk presents the baby DOGE…
As we know, Elon Musk’s preferred means of communication is … the tweet (not that Jack Dorsey will complain about that). With nearly 60 million followers, Elon Musk can reach a large audience with his tweets. But its influence goes even further and directly affects the price of certain cryptos!
Elon Must’s latest tweet announces the arrival… of a puppy!
Thus, on Sunday, September 12, 2021, Elon Musk posted a picture of a baby dog of the Shiba Inu breed. The dog sleeps in the fetal position. The tweet is accompanied by the following caption. “Floki has arrived”, understand “Floki has arrived” ! As often, this tweet was very successful. As of this writing, the post has been retweeted over 18,500 times and received over 261,000 likes! At this point, you must be wondering what is the connection between this at first glance endearing and harmless tweet with crypto?
Floki, much more than a Shiba dog!
Decryption is very simple. Elon Musk has established himself as an ardent supporter of the Dogecoin crypto. Gold, the emblem of the crypto DOGE is a dog… Shiba Inu ! By posting a photo of baby Shiba Inu, the relationship with crypto starts to emerge! And if you now think that there is a crypto called… “Shiba Floki”the connection becomes more than clear!
By his tweet, Elon Musk subtly played on Twitter’s characters to propel the course of crypto Shiba Floki! What was the result? Without surprise, the price of the Shiba Floki crypto has exploded ! During the last 24 hours, the price of Shiba Floki has thus taken more than… 780%! Its price is $0.0000000051 at the time of writing.
Admittedly, this crypto is still far from the largest in terms of capitalization by being ranked after the 2,870th square. Not enough to lend credibility to this crypto, which remains confined to a “meme coin” status. But The must effect asserted itself again! The Musk effect is all the more striking as at the same time most cryptocurrencies have fallen in the past 24 hours.
A Floki… Flokis!
Analyzing the market, we quickly realize that the Musk effect was not limited to the one and only crypto Shiba Floki. Actually, all cryptos that have the name “Floki” saw their prices skyrocket after Elon Musk’s tweet. Thus, at the time of writing this article, the following cryptos have seen their price explode before settling down:
- Floki Inu (2,682th world) with a price of $0.000038 which has stabilized more than 100% over the last 24 hours;
- Floki Shiba (3.120th world) with an infinitesimally small price that has fallen as fast as it has risen (20% in the last 24 hours);
- Super Floki (3,455th world) with an infinitesimally small price which has since dropped somewhat but still shows more than 70% in 24 hours.
To be precise, only the BabySpaceFloki crypto didn’t see its price spike after Elon Musk’s tweet. Hard to understand when you know Elon Musk’s taste for space!
Whether we’re deploring it or enjoying it, Musk and his tweets are having an impact on the price of certain cryptocurrencies. Fortunately, its effect is currently felt only on meme coins, in other words purely speculative cryptos with no real technology behind them. That said, considering Bitcoin’s decline in the last 7 days by minus 13% at the time of writing this article, no one would be against a little tweet from Elon praising Bitcoin! A little brother to Floki, who would be called Bitcoin, for example, right?!
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