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Floki Inu Fans Bark for the FLOKI Crypto as Musk Sounds Off on Pup Coins

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Elon Musk has renewed interest in puppy-themed cryptos as Shiba Inu, Dogecoin and the FLOKI crypto gain ground with investors....

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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This weekend was far from boring for Floki Inu (CCC:FLOKI-USD). It’s no secret that pupcoins FLOKI crypto and Shiba Inu (CCC:SHIB-USD) have faced considerable skepticism, even in the face of their recent winning streaks. Both skeptics and bulls had plenty to think about recently, though. The most influential voice in crypto investing has finally made some comments on both the tokens. We speak of course about the Dogefather himself, Elon Musk. The Dogecoin (CCC:DOGE-USD) influencer responded to a tweet from a Shiba Inu fan account. It wasn’t long before social media exploded.

A smiling Shiba Inu dog in front of a bright yellow background.
Source: Shutterstock

FLOKI Crypto: What Happened

We can’t say for sure what Shiba Inu fans were expecting in terms of a response — many have assumed Musk is a SHIB holder since he shared news of his new puppy. However, he quickly responded “None” when asked how much Shiba he held, leading to a temporary pullback in Shiba Inu prices.

When another Twitter user posed the same question regarding Floki Inu, he responded in more detail.

Out of curiosity, I acquired some ascii hash strings called “Bitcoin, Ethereum & Doge”. That’s it.

As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.

— Elon Musk (@elonmusk) October 24, 2021

This sentiment clearly struck a chord with the team behind Floki, who quickly tweeted their own response, praising Musk.

Well said, Elon!

TRUE VALUE!

It's why #FLOKI is building a metaverse, an NFT and goods marketplace, and a crypto education platform.

Poised to be the a top memes that combines the power of memes with utility to kickstart the crypto revolution.

The meme army respects you sir!

— Floki Inu (@RealFlokiInu) October 24, 2021

What’s Happened Since

Musk’s initial tweet has received thousands of retweets, quotes and replies. Overall, the recurrent theme throughout the thread is one of positive energy and feelings of optimism toward the crypto names mentioned.

As can be expected whenever Musk tweets anything, crypto prices have been on a wild ride. Bitcoin (CCC:BTC-USD), Ethereum (CCC:ETH-USD) and Dogecoin, the three cryptos named by Musk, are all in the green as are many other prominent names in the crypto space. SHIB and FLOKI have experienced more volatility, although now both are positive over the past 24 hours.

Importantly, Musk’s tweets come at a time of great interest in these pupcoins. InvestorPlace contributor Tezcan Gecgil predicts they could be poised for growth. Other experts agree, as recent Shiba price predictions have been positive.

What’s Next for Floki Inu

As is often the case with Floki Inu, much remains uncertain. What we do know is that any sort of social momentum is good for a token such as Floki, and when Musk tweets about anything even semi-adjacent to the crypto space, momentum is never far behind. Floki has its own digital army, known as Vikings, who love to show their support on social media.

While Musk didn’t specifically say anything positive about the FLOKI crypto, the more important detail for investors will be in the fact that he didn’t say anything negative either. Floki has had plenty of skeptics, but it has continued to rally and generate positive returns for investors willing to take the risk. Adding to that is the fact that Floki has recently entered into a partnership with fiat exchange platform Guardarian to make joining its investor army even easier.

Overall, this story provides a lesson in shaping the narrative around a popular crypto. Floki’s team chose to focus on the positive aspects of Musk’s response, and as a result, enthusiasm is high. The token was founded on the association that it would gain momentum every time Musk tweeted about his puppy, the original Floki. Clearly he doesn’t even need to do that for the token’s price to rise.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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