Home - Blockchain - A Tweet on His Pet By Elon Musk Caused The Cryptocurrency Value Jumped By 1000%

David Agullo

September 14, 2021

A Tweet on His Pet By Elon Musk Caused The Cryptocurrency Value Jumped By 1000%

Elon Musk has returned to his old tricks. The ‘Musk Effect,’ which began over a week after Musk made a formal comment on cryptocurrencies and their future, appears to be still going strong, particularly with Tesla CEO Elon Musk’s favorite cryptocurrency, Dogecoin. Dogecoin began as a prank. The joke looks to have turned on people who didn’t take the meme cryptocurrency seriously in early 2021. Elon Musk’s meme-cryptocurrency, which he couldn’t stop tweeting about, hit a new high in mid-April, crossing the $10 mark for the first time. This is the cryptocurrency’s highest price ever, and it’s the result of a semi-ironic movement involving tens of thousands of buyers, tens of thousands of online posters, and a semi-ironic movement involving thousands of buyers.

Whatever this man says becomes the headlines the other day and affects the market. It looks as if one person is running a completely digital system.

Elon had posted the tweet on the internet in the early hours of Friday, and the prices of his favorite cryptocurrency, Dogecoin, have steadily risen since then. Several other altcoins related to Dogecoin have increased in price in the days since Elon wrote on Twitter, including the Baby Doge, which has seen a significant price increase since Friday.

However, according to Elon Musk’s tweet, the Shiba Floki has been the market’s greatest and most noticeable gainer, with an astonishing increase rate of 958.09 percent, and that too in the last twenty-four hours.

What is Shiba Floki And Floki Inu?

The Shiba Floki, as of now, is the highest and the biggest gainer from this incident, and right at this moment, the cryptocurrency is trading at an estimated valuation of $0.000000005961. Another cryptocurrency that goes by the name of FlokiInu has recorded a surge of 59.08 percent, and on the other hand, Floki Shiba, which is another crypto-related to Dogecoin, has recorded a spike of 23.46 percent since then. 

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Shiba Floki: It is a cryptocurrency that runs on Binance Smart Chain, is the most recent descendant of meme parent Dogecoin. It’s a hyper-deflationary sub coin with a sophisticated sharing structure built in to ensure that every investment receives more shibafloki in their wallet. This means that for every transaction that takes place, the card owner receives a 5% commission fee. Imagine being able to keep track of brand new tokens even before they go live, and knowing that buying them is risk-free.

Floki Inu:  It is a courageous little puppy. Fans and members of the Shiba Inu community have created a new crypto coin. Elon Musk’s Shiba Inu, FlokiInu, is yearning for delicacies from outer space! Because he’s hyper-deflationary and meant to reward you, each transaction adds extra FlokiInu coins to your wallet. Simply love, pet, and watch your FlokiInu soar to the red planet!

FLOKI was created to be a deflationary token that pays you just for owning it!

This isn’t the first time Musk has ‘accidentally’ caused a cryptocurrency price increase. It’s not even the second, or third time. Every time Elon Musk discusses the cryptocurrency, a boom (often following an eventual drop) occurs in the prices of the cryptocurrency. Dogecoin is a digital token similar to Bitcoin that is used for e-transactions. Doge is a reference to the ‘doge’ meme and has a picture of the Shiba Inu on it. It is a cryptocurrency, a kind of digital money that, much like bitcoin, permits peer-to-peer transactions via a decentralized network