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Elon Musk’s Shiba Inu dog has finally arrived, and the billionaire was quick to share the news with his nearly 60 million Twitter followers. With his post, Elon Musk excited the Dogegeoin (DOGE) and meme coin Floki Inu community. Also, meme coin prices saw a sudden jump in yellow.

Elon Musk’s post threw off the price of these 2 meme coins!

According to CoinGecko data, after Tesla CEO Elon Musk posted a photo of his dog on Twitter, the price of the Dogecoin fork Floki Inu increased by over 100%. However, the original meme coin rose only 5% before completely retracting its gains during a wider market sell-off. The meme coin Floki Inu was created on Binance Smart Chain (BSC) on June 28, when Elon Musk announced that the Shiba Inu dog would be named Floki.

https://twitter. com/elonmusk/status/1437179881260032016

Cryptocoin. com, unlike Dogecoin, the meme coin Floki is a deflationary cryptocurrency backed by the “proof of meme”. Rewards users who hold tokens through automated farming. The meme token is currently only available on Uniswap and PancakSwap. However, the team plans to list the altcoin on centralized exchanges as well, according to the project’s roadmap. Elon Musk initially tweeted that he would buy a Shiba Inu dog in March, causing waves of excitement in the Dogecoin community and sharply raising the price of the original meme coin.

Elon Musk spurred unprecedented demand for Shiba Inu dogs

DOGE has an important place in the market. The hugely successful Doge meme that inspired the cryptocurrency was recently sold for $4 million as an NFT token before it disintegrated. Elon Musk’s advocacy and incredible Dogecoin rally also spurred an unprecedented demand for real Shiba Inu dogs. Senior dog breeder Jeri Burnside says her friends already have long waiting lists, and the dogs are padolsama who care. Jeri Burnside made the following comments on the subject:

All my breeder friends are overflowing with puppy requests and have mile-long waiting lists.

https://twitter. com/elonmusk/status/1408380216653844480

However, Jeri Burnside argues that such a high level of popularity can lead to unethical breeding in so-called “puppies”. Also, Jeri Burnside warns potential owners that Shiba Inu dogs are not as harmless as they may seem at first glance. In fact, a recent study reveals that the DNA of the Japanese race is the closest to that of the wolves. Jeri Burnside made the following comments on the subject:

These are not small, harmless animals as they seem. They are smart, cunning and self-sufficient hunters in a cute little package.


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Michael Lewis

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