Elon Musk makes cryptocurrency rise 109% after posting picture of his dog
The movement started after Musk published a photo of his new dog, whose name is precisely Floki.
Floki has arrived pic.twitter.com/2MiUKb91FT
— Name (@elonmusk) September 12, 2021
There is no way to say whether the increase was due to the tweet, but the fact is that the movement was coincident. At the same time, FLOKI’s price showed that fast movement which is characteristic of meme cryptocurrencies.
Thus, FLOKI had a strong reduction in the intensity of the rally, but continues to operate in the positive. At the time of writing, the cryptocurrency has gained more than 88%.
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It wasn’t just FLOKI’s price that skyrocketed. Before Musk’s message, the cryptocurrency was being traded for $0.0000181 and recorded a daily volume of $2.4 million. After Musk published the photo, the numbers jumped to $0.0000435 and $33 million, respectively.
In other words, FLOKI’s trading volume grew by an incredible 1.375% over the course of a few hours. The cryptocurrency was resurrected after part of the developers who left the project decided to come back.
Interestingly, this is not the first time that Floki by Elon Musk has caused manipulations in the market. Musk acquired his dog, which belongs to the Shiba breed (named after another cryptocurrency meme) in June and claimed his name would be called Floki. At the time, the message made the prices of both Shiba Inu and Floki soar.
So far, FLOKI has already offered impressive returns of 40,000%. That is, whoever invested $100 managed to transform this amount into $40 thousand.