Elon Musk Appoints FLOKI as New Twitter CEO – DOGE, SHIB, & FLOKI Prices Soar

• Late last year, Elon Musk asked the public whether he should step down as CEO.
• 57% of Twitter voters agreed that The Dogefather should throw in the towel.
• Musk posted the FLOKI, DOGE, and SHIB mascot as the new CEO of Twitter.

It’s a sunny day in crypto for dog-themed memecoins, as Shiba Inu (SHIB), Dogecoin (DOGE), Floki (FLOKI), and Baby Doge Coin (BABYDOGE) all recorded significant gains ever since Elon Musk’s viral tweet. This time, the Chief Twit shared an image of a Shiba Inu dog, which is the mascot of all aforementioned memecurrencies, declaring the dog the new Twitter CEO.

Musk remarked that the new Twitter Boss is highly qualified, as “he’s great with numbers.” To the surprise of many, the picture also has “FLOKI” written on the contract signing papers, indicating that Floki might have sponsored this tweet. This emerging canine coin ranks slightly outside the TOP 100 by global market capitalization.

Is Elon Musk Cheating on DOGE?

Indeed, Elon Musk’s loyalty to Dogecoin might be coming to a close, as the recent tweet suggests that the top dog memecoin is not the only memecurrency he’s promoting. The Ethereum-based Floki got the bigger piece of the pie because of the mention, whipping up 61.1% gains since the tweet. At press time, the #126 ranked canine coin trades at $0.00003700, according to CoinGecko.

On the other hand, the leading dog-themed coins, Dogecoin and Shiba Inu, recorded daily growth of less than 5% each. At the time of publication, DOGE is changing hands at $0.086282, with 3.9% in the green for the last 24 hours. Meanwhile, SHIB inked 4.7% gains and currently trades at $0.00001319, according to CoinGecko.

Furthermore, the growing competitor of both Shiba Inu and Dogecoin just got its first major crypto exchange listing. Following the news, the Seychelles-based crypto platform announced the inclusion of Floki in spot trading pairs, which should go live on 17th February 2023.

On the Flipside

• Part of Crypto Twitter argues that Elon Musk’s tweets don’t have as much impact on crypto prices as they used to. According to this theory, Musk could have deliberately chosen the lesser-known canine coin with a significantly smaller market capitalization.

Why You Should Care

Memecoins are known for igniting bull runs for alternative cryptocurrencies due to public appeal, thus easily generating social mentions.

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