After the head of Twitter, Tesla, and Space X posted his Shiba Inu dog named Floki in a sweater with the inscription CEO on the social network, the rate of Dogecoin, SHIB, and FLOKI meme coins skyrocketed.
On the evening of Tuesday, February 14, Elon Musk showed a ‘new CEO’ to his subscribers in a series of tweets and wrote:
The new CEO of Twitter is amazing. So much better than that other guy! He’s great with numbers!
While the billionaire’s tweets about Floki continue to gain likes and get retweets, Dogecoin, SHIB, and FLOKI rates are going up.
CoinDesk data shows that the price of DOGE and SHIB has risen by more than 6% over the past 24 hours. Meanwhile, the price of the FLOKI token increased by 64%.
One of the richest people in the world regularly speaks out in support of Dogecoin. Elon Musk emphasizes that the meme cryptocurrency network can process significantly more transactions than the Bitcoin network. According to Musk, DOGE is much better than bitcoin for payments since transactions are confirmed in 60 seconds.
In January, Mark Yusko, CEO of Morgan Creek Capital, an investment company, said that ‘dog meme coins were made as a joke and had no real value. Dogecoin was created on the Litecoin code base. Still, the coin gained popularity, and now its capitalization exceeds $10 billion, mainly thanks to Elon Musk.
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