Floki Inu token gains 25% following Elon Musk’s Twitter post
The value of the asset broke the $0,000016 mark for the first time since May 5
![Floki Inu token gains 25% following Elon Musk’s Twitter post](https://storage.getblock.net/source/1/J_ECIcVsZvWXK3QIrOefe1QMCsLL6gmc.webp)
01.08.2022 - 14:10
360
1 min
0
What’s new? On August 1, the meme token Floki Inu (FLOKI) showed a 25% increase after a Twitter post by the head of Tesla, Elon Musk. The entrepreneur mentioned his dog named Floki, noting that he would publish its picture on August 2, and then the rate of the coin with the same name began to rise. The value of the asset broke the $0,000016 mark for the first time since May 5. As of August 13:50 UTC, the asset is trading at $0,00001544, according to CoinGecko.
Floki pic tomorrow— Elon Musk (@elonmusk) August 1, 2022
What is known about Floki Inu? It is an ERC-20 standard token based on the Ethereum blockchain. In 2021, Elon Musk told Twitter that he wanted to get a Shiba Inu dog and name it Floki. The developers created the cryptocurrency by analogy with the already popular at that time meme coins Dogeсoin (DOGE) and Shiba Inu (SHIB). It has a market capitalization of $140,2 million, according to CoinGecko.
In July, US citizen Keith Johnson sued Elon Musk, as well as his companies, Tesla and SpaceX, claiming that they manipulated the rate of Dogecoin. The prosecutor seeks $86 billion in damages from Musk and $172 billion in moral damages. Johnson also asked the court for a complete ban on the promotion of DOGE for the billionaire.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024