Recently, as the crypto market, especially Bitcoin, heats up like never before, Elon Musk’s name has been popping up more and more. Not only is he a big supporter of cryptocurrencies, but Elon Musk is also known for his ability to “work magic” and influence their prices with just a few lines on his social media. It’s clear, whether by chance or design, that his moves often line up with major market shifts. So much so that his social media following has surged dramatically in just a few days.
To prove his magic once again, Elon Musk recently stirred up the internet with a simple move. Just by posting a casual picture of his dog along with the caption “Floki has arrived“, Elon sent the market into a frenzy. The biggest impact was seen in Floki-themed cryptocurrencies, which skyrocketed in value.
According to updates, on September 13th, right after Elon’s post, the price of Shiba Floki soared to a record high, nearly hitting a 1,000% increase, making it the top-performing crypto of the day. Other Floki-related coins like Floki Inu and Floki Shiba also jumped 92% and 15% respectively within 24 hours. Even Dogecoin, another animal-themed coin that Elon has influenced before, rose almost 10% before settling back down.
This isn’t the first time Elon Musk has shown his “magic” in the crypto world. Previously, just naming his dog Floki was enough to push Shiba Inu’s price up over 16%. And with Dogecoin, a single tweet saying “Who let the Doge out” sent its value soaring to more than triple its previous price within a week.
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