The entrepreneur, who has often sided with Dogecoin (DOGE) and was hailed as the Dogefather, shared a video featuring the Shiba Inu dog Floki as the CEO of X (formerly Twitter).
The post went viral within hours, sending FLOKI’s price to a 10-day high of $0.00009. However, on Tuesday, the meme token tanked 12%, trading at $0.00006684.
Flōki is back on the job as 𝕏 CEO! pic.twitter.com/Zu29Dos24r
— Elon Musk (@elonmusk) October 20, 2025
Back in 2023, when he humorously referred to Floki as his successor as Twitter CEO for the first time, FLOKI’s price skyrocketed by 140% in a single day. This time wasn’t so different as Floki Inu maintains itself as one of the best meme coins to buy .
Floki Price Analysis: Channel Breakdown and Potential Reversal
The weekly chart reveals FLOKI trading within a prolonged descending channel since early 2024. The token recently bounced near a critical horizontal support zone around $0.00004–$0.00005.
A rebound from this level could mark the early stages of a mid-term bullish reversal.
Source: TradingView
Currently, the Relative Strength Index (RSI) is at 41.17 while the MACD shows bearish momentum. It is possible that the downside pressure may be easing.
If the support around $0.00004 holds, the next major resistance sits near $0.00009, followed by the upper trendline of the descending channel. A breakout above this range could set the stage for a major rally toward $0.005, representing a massive 7,500% upside potential.
However, failure to maintain support around $0.00004 could extend the decline toward $0.000028, marking an additional 40% downside from current levels.
While short-term volatility remains high, Elon Musk’s spotlight has resulted in a 161% surge in Floki Inu’s trading volume, CoinMarketCap data shows. Market participants might see the meme coin make an explosive move soon.
FLOKI Eyes Generational Run – Maxi Doge’s Progress Makes Headlines
FLOKI could be at the brink of a major rally but Maxi Doge ($MAXI) is already in the investors’ spotlight, representing not just a token but an attitude built around discipline, ambition, and risk-taking.
Maxi Doge’s mascot, a muscular Doge energized for success, is now the talk of many discussions, especially as the project has garnered strong backing from the community.
Maxi Doge aims to empower smaller traders who often feel overshadowed by big investors. The idea is to create a space where everyday traders can feel like heavyweights.
Early backers of the project are also eligible for significant staking rewards as the initiative gains traction.
Participants can swap existing crypto or use supported payment methods to complete transactions.
