The richest man in the world posted a photo of his dog dressed as Santa on Twitter. He added the caption “Floki Santa” to the photo. It seems like nothing out of the ordinary. However, the token of the same name recorded a five-digit increase in the following hours. However, it soon made a sharp move south.
Floki Santa pic.twitter.com/y3CTq16bGi
— Elon Musk (@elonmusk) December 25, 2021
Besides being the CEO of some of the most well-known companies in the world today, Elon Musk’s name is synonymous with massive gains for memecoin in the cryptocurrency space. Now, his influence has expanded far beyond even Dogecoin, which he’s pumped up multiple times this year.
Santa Floki shot to the moon
Even some of Musk’s tweets that weren’t explicitly related to digital assets have driven huge gains. The latest example came on Christmas Day, when the billionaire shared a photo of his dog, Floki. It showed the billionaire’s pet in a Santa suit, which Elon dubbed “Floki Santa.”
You would think this is a normal thing to do during the holiday season. However, what happened next is only normal in the cryptocurrency space.
The creators of the digital asset with the same name, but in reverse order – Santa Floki (HOHOHO symbol) – decided to use the opportunity. They found that Musk had been tweeting about their project, not just his dog.
We’re going to mars!!! Come join us! https://t.co/egfulz3cDZ pic.twitter.com/GemkXrrS4j
— Santa Floki (@Santa_Floki) December 27, 2021
The coin’s price skyrocketed in the hours and days that followed. Initially trading at just $0.000000012935, the tweet saw it rise to a new all-time high of $0.00000245. That’s an 18,840% gain in just about 48 hours.
However, the meme coin has since fallen by over 60%, and HOHOHO now hovers around $0.000001.
You can check the current rate of bitcoin and other cryptocurrencies in the tabs: bitcoin rate and cryptocurrency rate on the bitcoin.pl website. The place where you can buy BTC and other digital assets is, among others, Zonda cryptocurrency exchange.
