Here’s Why The FLOKI Price Jumped 22% – It Has Nothing To Do With Dogecoin

FLOKI has stunned the crypto market with a quick 22% surge in the past 24 hours after gathering the attention of crypto traders and meme-coin ￰0￱ price spike, which saw the meme coin climb from around $0.000066 to as high as $0.0000879, came with a sudden surge in trading volume across major ￰1￱ first thought is that the move might be linked to Dogecoin’s momentum , but the real reason turned out to be something entirely different: a new post by Elon Musk that instantly went viral on the social media platform X. Flōki Is Back On The Job The rally began shortly after Elon Musk shared a humorous, AI-generated video of a Shiba Inu dog on ￰2￱ the clip, the dog appears sitting at a desk wearing glasses and a tie, jumping on the table and muttering, “Numbers, numbers, numbers… Is this working?

Yay,” alongside the caption, “Flōki is back on the job as X CEO!” Within minutes of the post, FLOKI’s trading activity skyrocketed, and trading volume soared more than 700 ￰3￱ cryptocurrency community instantly connected the post to the token, pushing its price upward by over 20 percent in just ￰4￱ had been trading around $0.00006966 before the post, looking to break above $0.00007. However, after the post, the meme coin’s price had broken above this level and had even broken past $0.0000 within a few hours. Therefore, the move confirmed that it was Musk’s post alone that triggered the run, as there were no concurrent updates from the FLOKI development team or new exchange ￰5￱ It Had Nothing To Do With Dogecoin Although Elon Musk’s name has long been associated with Dogecoin , the king of meme coins, this particular event had nothing to do with ￰6￱ FLOKI rally was based purely on the six-second video of the Shiba Inu and not on any reference to ￰7￱ was no Dogecoin tweet, partnership, or update from Musk in connection with this ￰8￱ meme coin surge serves as another example of how social media can dictate short-term volatility across the meme-coin market.

Particularly, the market reaction shows how quickly Elon Musk can influence the price action of some cryptocurrencies, especially meme coins. Dogecoin’s price was mostly stable during the FLOKI ￰9￱ even broke below $0.20 again, showing that the two meme coins’ movements were not correlated in this ￰10￱ the time of writing, FLOKI is trading at $0.00007316 after pulling back from an intraday high of $0.00008801 in reaction to Musk’s ￰11￱ 24-hour trading volume is currently at $536.9 million, roughly 75 percent of its market cap. However, without concrete project updates or ecosystem expansion, FLOKI could easily retrace back below $0.00007 once the enthusiasm cools down.