One photo was enough to send shockwaves through crypto markets. Elon Musk posted an image of his Shiba Inu, Floki, dressed like a corporate boss with the caption “Flóki is back on the job as X CEO.”
Within hours, the FLOKI token – named after the same dog – jumped over 20%, reaching $0.00008043, before cooling slightly, according to TradingView.
The tweet instantly went viral, propelling FLOKI to the top of CoinGecko’s trending list and sparking a surge in trading activity. Data from Coinglass showed FLOKI’s derivatives volume jumping 663% to $283 million, while open interest surged 165% to $37 million – a clear sign of renewed speculation across the meme coin market.
Musk Reignites the “Dog Token” Effect
It’s not the first time Musk’s posts have rattled crypto markets. His pet has long been a symbol for dog-themed tokens, and this latest post reignited that influence. FLOKI’s official X account celebrated the moment, declaring it “the people’s crypto” and highlighting its recent European ETP debut and Robinhood listing as proof of its growing legitimacy.
The wider meme coin sector benefited as well, with total capitalization rising 5.8% to about $64.4 billion. Smaller tokens like Ergo and Bio Protocol also gained briefly in the aftermath.
Despite high volatility, FLOKI’s long-term growth remains striking – it’s up 148% all-time, and analysts predict another potential 160% upside if social sentiment and adoption continue to build.
At press time, FLOKI was holding near $0.000079, keeping most of its daily gains. Once again, Musk’s playful online antics proved that when his dog barks, the entire crypto market listens
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Source: https://coindoo.com/floki-soars-after-elon-musks-tweet-meme-coin-mania-returns/