After Elon Musk shared a video generated by AI Gork to promote his artificial intelligence, FLOKI soared following the tweet. We take stock of the situation.
Elon Musk sends FLOKI soaring
On Monday, the memecoin FLOKI soared, gaining more than 27% in a matter of hours. The only reason for this increase was a tweet from Elon Musk, in which he showed video results from the artificial intelligence Grok, featuring a Shiba in an office. Accompanying the video, the entrepreneur added, “Flōki is back at work as CEO of X.”
That was all it took for the token of the same name to see its price rise from $0.000069 to $0.000088. Since then, the memecoin has corrected and is trading at $0.00007475, still up 7.2% over 24 hours.
As a reminder, on June 25, 2021, Elon Musk tweeted “my Shiba will be called Floki,” which led to the creation of the memecoin by the community.
After the euphoria of 2021, the memecoin went through a long dry spell before reaching a new all-time high (ATH) of nearly $0.00035, only to fall back more than 78% since then:
To date, FLOKI claims a market capitalization of $712 million and ranks 10th in CoinGecko’s memecoins category.
