Elon Musk boosts Floki Inu by 16% with a photo of his dog on Twitter

The price of Floki Inu skyrocketed after a mention of Elon Musk on Twitter. One would have thought that the power of boost of the Tesla founder had faded and that his recent remarks about Dogecoin or Bitcoin had no effect on the crypto-currency market anymore. But apparently, the opposite is true.

By simply mentioning his dog Floki, named after a character from the TV series Vikings, elon Musk managed to motivate investors to buy a coin of the same name, Floki Inu (FLOKI), and the price of the token jumped 20% in about an hour.

Floki pic tomorrow

– Elon Musk (@elonmusk) August 1, 2022

Floki Inu is a clone of the already well-known Dogecoin and Shiba Inu memecoins, but with a slant towards the Viking theme. These tokens, originally invented for fun, are now actively used as a means of payment, and some are even working on their own DeFi infrastructure.

What is the Floki Inu (FLOKI) project?

Floki Inu is a little-known project, but it puts a lot of effort into promoting itself. For example, the boxer Tyson Fury appeared in a T-shirt with the image of a dog wearing a Viking helmet, the symbol of the project. The project itself is actively engaged in advertising, displaying banners around the world, from the United States to London to Turkey, and dealing with major crypto-currency exchanges to get listed.

Among other things, the Floki Inu team yesterday unveiled the first internal DeFi protocol project under the FlokiFi wing, Project L. While FlokiFi is the full project ecosystem, Project L. is a crypto-currency locking solution that allows it to lock and invest assets in the ERC20, BEP20 and ERC-1155 networks.