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- Yesterday, Elon Musk introduced to the world, the new CEO of Twitter “Floki.”
- In his latest tweet, Musk stated that the new CEO of Twitter is “amazing.”
A tweet from the Tesla King can easily move the market. As recently when Elon Musk shared a picture of his dog, the memecoin marked an upsurge in its price. The popular memes coins Dogecoin, Shiba Inu, and Floki Inu noted an upsurge after the tweet from Musk.
Meet the new Twitter “CEO”
Elon Musk, the Chief Executive Officer of Twitter, recently shared a tweet in which he introduced his dog as the new CEO of Twitter. He wrote “the new CEO of Twitter is amazing.” In his tweet the dog was shown dressed in an iconic Silicon Valley-style black turtleneck and sat authoritatively in a large armchair behind a desk.
Unsurprisingly, the prices of memecoins such as Dogecoin, Shiba Inu, and Floki soared. The price gains illustrate the capacity of Musk to mint money with just a few trigger-happy taps of his thumbs as well as his focus on his Twitter persona, as he reportedly ordered 80 Twitter engineers to boost his engagement at the time of the Super Bowl.
Dogecoin price analysis
At press time, the price of the world’s first memecoin was $0.090180 with a 24-hour trading volume of $714.369. Dogecoin is up 4.18% in the last 24 hours and its current ranking is 9. Dogecoin’s market cap increased by almost $500 Million and reached a market cap of $11.96 billion.
Floki Inu price analysis
The price of the utility token of the Floki Ecosystem is $0.000054 (at press time) with a 24-hour trading volume of $181.84 million. FLOKI is up 86.03% in the last 24 hours. However, it is currently ranking at 214 while its total market cap also soared by half and its market capitalization is at $483 Million.
Shiba Inu price analysis
Shiba Inu, the other popular dog-themed memecoin named after the breed of Musk’s dog, also recorded a price jump. Shiba Inu was trading at a price of $0.000014 at the time of writing with a 24-hour trading volume of $489.49 Million. Shiba Inu is up by 5.11% in the last 24 hours. It is currently ranked 13, with a market cap of $7.54 billion.
In December last year, Musk said he would resign from his post as the CEO of Twitter. He also polled his more than 100 Million followers about whether he should stay on his post and the majority of voters preferred that he step down. Nevertheless, this is not the first time that a single tweet by Musk shook up the market.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
