Elon Musk Triggers Another Meme Coin Rally
Elon Musk’s Grok video starring Floki reignited the FLOKI token’s momentum with a 30% surge, reversing losses from crypto’s recent crash and drawing new investor focus.
Elon Musk caused FLOKI to rally after posting a new video on social media. Demonstrating Grok’s video generation capabilities, Musk employed Floki as an unofficial mascot.
Although FLOKI recently rallied after a European ETP listing, the Black Friday crash erased all these gains. The 30% growth after Elon’s post has done a lot to help the token rebound.
Elon Causes FLOKI Rally
Elon Musk has had an explosive impact on the meme coin sector, with his business decisions and social media posts alike spurring huge token movements.
Today has been no different, as Elon posted a new video starring Floki the mascot, causing the related asset to rise dramatically:
Flōki is back on the job as 𝕏 CEO!
— Elon Musk (@elonmusk)
Specifically, Elon posted this Floki video to demonstrate Grok’s AI-generated video capabilities. He has also caused meme coin rallies by teasing these features in development, but it looks like X won’t be splitting Grok videos into a separate app for the moment.
Chaotic Price Fluctuations
In any event, Elon’s post was a huge boon for FLOKI, the meme coin. The token crashed hard after crypto’s Black Friday earlier this month, and it has been stagnant until today.
With this new post, however, FLOKI rallied around 30%, recovering much of the lost gains from the crash:
FLOKI Price Performance. Source:
In other words, if Elon Musk keeps demonstrating interest in Floki like this, it could cause a wider recovery. Earlier this month, a FLOKI ETP launched in Europe, providing a big boost to the token. The Black Friday crash erased all these gains, however, and Elon seems like the best prospect to reverse it.
Of course, Elon’s social media posts might not be a reliable boost for FLOKI in the long run. It’s impossible to predict which token he’ll fixate on; although CZ shows persistent support for several projects, Musk’s endorsements are often momentary.
Whatever happens next, this has been a big boost for FLOKI. Hopefully, the project will continue capitalizing on its moment in the spotlight.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SHIB's Blockchain Departure: Sign of Optimism or a Bear Market Snare?
- Shiba Inu (SHIB) saw 289B tokens exit exchanges in one day, signaling reduced selling pressure and long-term accumulation. - On-chain data shows exchange reserves dropped to 81.9T SHIB, with investors shifting tokens to private wallets amid bullish sentiment. - Technical indicators highlight SHIB's $0.0000100 price struggle, oversold RSI (37), and unbroken resistance at $0.0000119-$0.0000121. - Analysts warn of bearish risks if SHIB breaks below $0.0000095 support, despite broader crypto market optimism
NYC Election Highlights Identity Politics as Mamdani Counters Anti-Muslim Rhetoric
- Zohran Mamdani, NYC's Muslim mayoral nominee, condemned Islamophobic attacks from rivals Cuomo and Sliwa during a Friday speech. - Cuomo and Sliwa falsely accused Mamdani of supporting "global jihad" and endangering Jewish safety in a polarizing campaign strategy. - Over 650 rabbis opposed Mamdani over his criticism of Israeli policies, while Democratic leaders endorsed him for progressive policies. - Despite personal attacks, Mamdani leads polls at 43% support, framing the race as a choice between statu
Ethereum Updates Today: Crypto Excitement Faces Warnings as Halloween Presales Attract Investors Despite Market Fluctuations
- Crypto investors are eyeing Halloween presales like MoonBull's Stage 5, promising 9,256% ROI through Ethereum-based deflationary mechanics and token burns. - MoonBull's 15% referral bonuses and USDC rewards contrast with competitors like BullZilla, which lacks liquidity locks despite lower entry prices. - Market volatility highlights risks: Tether's $15B 2025 profit projections and Fed uncertainty warn against overexposure to speculative meme coins. - Strategic investors balance high-growth tokens with b
Plasma News Today: Plasma’s Authorized Stack Facilitates Direct Euro Transactions Across Europe
- Plasma secures Italy's VASP license under MiCA, enabling regulated stablecoin payments across Europe. - The firm plans Amsterdam expansion with compliance officers to strengthen EU regulatory alignment. - Aiming for CASP/EMI licenses to issue payment cards and facilitate direct euro settlements with traditional banks. - Plasma's $7B stablecoin infrastructure targets faster, cheaper cross-border transactions vs. legacy fintech giants. - Experts highlight its dual-licensing strategy as a model for integrat
Trending news
MoreCrypto prices
More
