Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), posted a picture of his newly arrived Shiba Inu dog Floki on Twitter and that was enough to send Dogecoin (CRYPTO: DOGE) knock-offs named after the pooch soaring.
What Happened: Musk tweeted a photo of the fast asleep Floki on Sunday, simply saying “Floki has arrived.”
Floki has arrived pic.twitter.com/2MiUKb91FT
— Elon Musk (@elonmusk) September 12, 2021
Musk’s Twitter following including Dogecoin co-founder Billy Markus noted the arrival of Musk’s latest pet.
i like him
— Shibetoshi Nakamoto (@BillyM2k) September 12, 2021
Musk’s post has led to the soaring of Dogecoin knock-offs that have the word “Floki” in their name.
See Also: How To Buy Dogecoin (DOGE)
Shiba Floki (CRYPTO: FLOKI) traded 1406.37% higher at $0.000000008379 over 24 hours. For the week, FLOKI is up 1036.14%.
FLOKI is up 1206.58% and 1184.37% against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) respectively.
It is noteworthy that the token is down 43.52% since it touched an all-time high of 0.00000001 in mid-July.
Another token, Floki Inu (CRYPTO: FLOKI), is also up 104.15% at $0.00003291. FLOKI gained 68.72% over a seven-day period.
FLOKI hit an all-time high of $0.00004065 on Sunday and is trading 21.07% below that level.
In comparison, Dogecoin (CRYPTO: DOGE) is up 2.82% at $0.25 over 24 hours. Over a seven-day trailing period, DOGE is down 20.72%.
Meanwhile, Baby Doge Coin (CRYPTO: BABYDOGE), a self-described son of DOGE, was trading 0.76% at $0.000000000591 over 24 hours. The puppy-themed coin fell 26.66% for the week.
Why It Matters: It was at the end of June that Musk had said he would name his dog Floki and around that time multiple Floki-themed coins began to emerge.
See Also: Dogecoin Co-Creator Warns: Be 'Realistic' About Investing In Plentiful Binance, Ethereum Ecosystem Tokens
There is a growing demand for the Japanese Shiba Inu breed of dogs thanks to both Musk and Dogecoin.
Dogecoin’s mascot is a Shiba Inu named Kobasu. A piece of non fungible token art bearing the original Dogecoin meme featuring Kobasu recently soared in value to a peak of $550 million.
Musk disclosed on Sunday that Floki was yet to forge a friendship with his other dog Marvin.
In January, shares of Etsy Inc (NASDAQ:ETSY) hit an all-time high after Musk said he purchased a hand-knit woot “Marvin the Martian” helmet for Marvin on the e-commerce platform.
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