Elon Musk tweet pumps FLOKI over 40%

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Elon Musk's Tweet Pumped FLOKI Over 40% Elon Musk’s Tweet Pumped FLOKI Over 40%
Elon Musk's Tweet Pumped FLOKI Over 40%

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Cover art/illustration via Cryptooshala

Three major meme coins — Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) — rallied higher following Elon Musk’s meme announcing his dog, Floki, as Twitter’s new CEO.

Floki soars over 40%

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FLOKI surges nearly 42% after Musk’s tweet0.00003 as of press time. The trading volume of MemCoin has increased by 290% in the last 24 hours.

Developers of Meme Coins City: A burning mechanism in January designed to reduce its supply. The team also reduced the Floki transaction tax to 0.3%.

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In the meantime, project developers have introduced new features to Meme Coin’s ecosystem, like the metaverse game Valhalla, to encourage more adoption.

DOGE, SHIB jumped more than 5%

DOGE and SHIB rose over 5% to $as per 0.08630 and $0.00001294 respectively cryptoslate Figures.

On February 13, DOGE was up more than 5% after Musk made a funny tweet about it.

On the other hand, SHIB developers are working on the imminent launch of Shiberium, the layer-2 network of the project.

Meanwhile, this is not the first time that a tweet by Elon Musk would affect market sentiments. Since Musk’s Twitter acquisition, there has been growing speculation about the role of cryptocurrencies on the social media platform.

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