Elon Musk makes cryptocurrencies suddenly spike in price for a tweet

A dark, meme-inspired cryptocurrency has suddenly risen in price after Elon Musk shared a photo of his new dog.

The Floki Inu coin reached an all-time high on Monday smoothly after the tech billionaire tweeted the image of the Shiba Inu puppy, along with the caption “Floki has arrived.”

The 150 percent price increase was reflected in other alternative cryptocurrencies with similar names, including Floki Shiba and Super Floki.

Despite massive price increases, all of them remain off the list of the 2,000 most valuable cryptocurrencies, according to the CoinMarketCap price index.

It is not the first time that a tweet from Musk has caused the cryptocurrency markets to move, as he previously helped propel dogecoin to new record highs earlier this year during his appearance on Saturday Night Live.

The world’s most famous meme-based coin was created in 2013 as a joke about the burgeoning cryptocurrency space that bitcoin pioneered.

He was inspired by the Shiba Inu Doge meme and soon gained attention for his fun-loving and philanthropic community that sprung up around him.

As a self-proclaimed fan of memes, Musk also took an interest in him and even bought some for his young son X Æ A-Xii so that he could be “a little boy”.

He also joked that cryptocurrency could become the native currency of the internet, as well as potentially on Mars when a human colony is finally established there.

Read more: Elon Musk says SpaceX will “probably” be able to get humans to the Moon before 2024

“Every now and then I make jokes about dogecoin, but they’re really only meant to be jokes,” he said during a question and answer session on the Clubhouse app earlier this year.

“But fate loves irony … The most entertaining outcome is often the most likely and possibly the most interesting outcome, and the most ironic outcome would be for Dogecoin to become Earth’s currency in the future.”

Musk is currently the second richest person on the planet, according to the Bloomberg Billionaires Index, with a net worth of approximately $ 200 billion.

Beyond the shares of SpaceX, Tesla, and its other companies, the only things it claims to have of significant value are bitcoin, Ethereum (ether), and dogecoin.

Article: Soure