The ‘Musk Effect’ looks to be running strong, especially with his favourite cryptocurrency, Dogecoin, weeks after Tesla CEO Elon Musk made a direct comment on cryptocurrencies and its future. This time, the Tesla CEO talked about his new Shiba Inu puppy on Twitter. Musk posted a picture of his Shiba Inu on Twitter with the comment ‘Floki has arrived.’
Musk sent out the tweet in the early hours of Friday morning, and Dogecoin prices have since risen. Following Musk’s post, not just Dogecoin but also related alt coins like Baby Doge enjoyed a surge. Shiba Floki, though, was the largest winner from Musk’s post, rising 958.09 percent in the last 24 hours, according to Coin Market Cap.
Musk’s tweet, which was sent at 3.52 a.m. IST, coincided with the sharp rise. Shiba Floki is the largest gainer as well, with a current price of $0.000000005961.
In the last 24 hours, Floki Inu has increased by 59.08 percent, while Floki Shiba has increased by 23.46 percent. Dogecoin’s value increased by 0.36 percent in the last 24 hours, with the increase coinciding with Musk’s tweet at 3:50 a.m. (GMT +5:30).
According to CoinMarketCap, after Musk’s post, Baby Doge increased by 1.80%. The cryptocurrency was created by Dogecoin aficionados who feel the parody cryptocurrency has a bright future. Baby Doge wants to impress his father by demonstrating his new increased transaction speeds and adorableness, according to the official website. He’s a “hyper-deflationary” with a built-in smart staking system, which means you’ll get more baby doge in your wallet. ‘All you have to do now is love, pet, and watch your baby dog develop.’
This isn’t the first time Musk has ‘accidentally’ caused a cryptocurrency price increase. It isn’t the first, second, or third time. Every time Musk mentions cryptocurrencies, the price of the cryptocurrency rises (frequently followed by a subsequent drop). Dogecoin is a digital token similar to Bitcoin that is used for e-transactions. The shiba inu is depicted on Doge, which is a reference to the ‘doge’ meme. It’s a cryptocurrency, or digital currency, that, like bitcoin, allows for peer-to-peer transactions through a decentralised network.
Shiba Inu saw a 16 percent increase in price when he announced that his next pet would be named Floki in August, when it reached $0.00000790.
Elon Musk, the CEO of SpaceX and Tesla, is well-known for his affection for the cute Shiba Inu dog breed. The breed is noted for being good companions as well as being the mascot of Musk’s favourite crypto currency, Dogecoin. You may have seen Musk’s enthusiastic posts about getting a Shiba Inu dog if you’re a regular on the Internet and follow his social media sites. While the tweet appeared to help Dogecoin’s stock, it also prompted a flood of fan art depicting Musk as the rightful “Dogefather.”
Musk announced the news in a tweet on September 13th, which included a photo of his new Shiba Inu puppy. The artwork depicts a calm snooze on a rug by a small child. “Floki has arrived!” exclaims the narrator. The post was captioned by Musk. This cutie has already made us melt!
The tweet, which was sent out about four hours ago, has already received 1.5 lakh likes and counting. Netizens couldn’t stop fawning over the cute puppy and showered affection in the comments area. While many people commented on how Dogecoin’s value will increase suddenly, others simply adored Floki and wanted more photos.
Elon Musk had previously posted a cute picture of his kid X A-XII on Twitter on July 15, and there are no prizes for guessing how quickly the image went viral. Last May 5, the Tesla CEO and Grimes welcomed their first child. Elon Musk and Grimes occasionally post images of their baby boy on social media, much to the delight of their fans and following.
In a new Instagram post, Elon Musk revealed a wonderfully beautiful photo of his baby, clad in a tee and jeans, crawling over a book. Elon Musk captioned his Instagram image, “Some light reading with tiny X”. With over 85,000 likes and 9,000 retweets, the post has gone insanely viral on Twitter. Grimes shared a video of her son playing with a portable keyboard earlier this year, and social media people couldn’t get enough of it.