Elon Musk's tweet about his dog Floki drives 4000% surge in cryptocurrency with same name

In the latest incident of Tesla CEO Elon Musk’s Twitter post impacting the crypto industry, the price of Santa Floki cryptocurrency multiplied after the SpaceX founder posted a photo of his dog. The cryptocurrency, Santa Floki is named after the billionaire’s cute canine. But after he posted an image of Floki in a Santa costume, the price of the cryptocurrency surged more than 4,000%. 

Elon Musk posted the image on 25 December with the caption ‘Floki Santa’. Even though it appeared that Tesla CEO was just referring to his dig dressed in the Santa costume, the creators of the cryptocurrency grabbed the opportunity to promote their coin. It is to note that Santa Floki (HOHOHO), a BEP20 token launched in addition to Binance Smart Chain, surged 3,944% earlier on 26 December before paring a significant portion of its gains. 

The billionaire owns a Shiba Inu puppy named Floki. Owing to 67.9 million followers on Twitter, the post of his dog in Santa Claus apparel had gone viral generating over 306,600 likes. 

But according to CoinGecko, the dog-themed coin recorded an unbelievable 4,261% increase following Elon Musk's tweet. Currently, Sputnik stated that the price of Santa Floki is dropping and trading is lower by 46.9% from its all-time high. Reportedly, it was fixed earlier on Monday. Subsequently, Santa Floki’s price surged from $0.0000000129 to $0.000001718 on Monday. Musk, a public supporter of cryptocurrency has repeatedly impacted the prices of digital coins. 

Musk’s tweet about Vikings led to an increase in price

Earlier in November 2021, Musk’s tweet about Vikings being on the Moon before the United States astronauts, led to an increase of at least three cryptocurrencies. As per the TGSL report, Viking Swap, VikingChain and Space Vikings – saw their price increase by 3,800%, 329% and 150%, respectively. Floki Santa was released on 16 November 2021 by a team of investors called The Parabolic Dev Team. The cryptocurrency on Musk’s dog’s name is based on the Binance blockchain. Its creators have said that a part of the profit through the operations goes to charity. 

Image: AP/Twitter