A cryptocurrency named after tech Billionaire Elon Muk’s dog, surged greater than 4,000 per cent in worth after the Tesla CEO posted a photograph of his dog on Twitter. According to CoinMarketCap knowledge, Santa Floki coin — named in a Christmas-themed reference to Musk’s Shiba Inu canine, was up a further 500 per cent over the previous 24 hours.
In a tweet on December 25, Musk posted a photograph of his dog sporting a Santa costume with the caption “Floki Santa.” However, Musk’s tweet didn’t point out any reference to Santa Floki coin however the Floki creators pounced on the chance to advertise their coin. “@elonmusk simply tweeted about us and we’re humbled by this recognition!” the creators declared on Twitter.
The submit of Musk’s dog in Santa Claus attire garnered over 306,600 likes. Santa Floki’s worth surged from $0.0000000129 to $0.000001718 on Monday.
Meanwhile,the creators of Santa Floki coin declare that the cryptocurrency based mostly on the philosophy that those that need to do good ought to come collectively and contribute to the much less lucky. “We imagine within the ideas of sharing wealth by way of passive revenue and planning to donate to respected charities reminiscent of Save The Children,” learn the outline about the cryptocurrency on CoinMarketCap.
This will not be the primary time Musk’s tweet has raised hypothesis. Earlier, in October, Musk tweeted {a photograph} of the Shiba Inu meme going to the Moon. At that point, the token was buying and selling at $0.000026 (Rs. 0.0020). His tweet pushed the coin to just about 50 p.c to succeed in a excessive of $0.000044 (Rs. 0.0033), in response to CoinMarket cap.
The tech billionaire is a staunch help of meme cash, few weeks in the past, Musk endorsed Dogecoin— a ‘meme’ cryptocurrency, over Ethereum saying that DOGE can be utilized to make Decentralised Finance (DeFi) extra accessible to everybody. Musk had as soon as modified his Twitter bio to “Former CEO of Dogecoin.”
Dogecoin was created in 2013 by software program engineers Billy Markus and Jackson Palmer as a quicker however “enjoyable” different to Bitcoin. It was began as a satire on the quite a few fraud crypto cash that had sprung up on the time, and takes its identify and emblem from a Shiba Inu meme that was viral a number of years in the past.
https://indianexpress.com/article/technology/crypto/elon-musks-tweet-about-his-dog-floki-drives-4000-surge-in-cryptocurrency-7694529/
