Elon Musk has once again moved the crypto market in a big way as he tweeted on Friday that he would name his Shiba Inu — the dog breed that the joke meme coin is named after — “Floki” and set off a SHIB price rally.
Fast facts:
- Shiba Inu’s price went to US$0.00000827 in a matter of hours following Musk’s tweet, though quickly fell back again. But SHIB prices continued to track upwards over the weekend and was trading at US$0.00000776 at publishing time.
- Dogecoin seemed initially unaffected by the news, but rose roughly 10% on Monday morning, from US$0.2434 to US$0.2655. It’s currently trading at US$0.2567 at press time.
