Elon Musk Posts Puppy Floki In A Tesla, SHIB Coin Surges 30%

A Twitter post of Elon Musk’s Shiba Inu dog has caused the cryptocurrency of the same name to soar 30% on Monday.

On Sunday night, Musk posted the picture of his pup Floki in the front trunk of a Tesla, causing not only the Shiba Inu coin to jump but also Dogecoin to spike a short-lived 7.5 cents

Musk brought home Floki on Sept. 12 in a Twitter post after declaring in June that he was getting a Shiba Inu dog, the mascot of the Dogecoin currency.

At the time that he declared he was getting a Shiba Inu and would name it Floki, a number of spinoff cryptocurrencies popped up in the dog’s name. When Floki finally arrived, the spinoff currencies saw a price bump with the dog’s arrival.

Now with the post of Floki in a Tesla, #SHIB began to trend on Twitter, and the coin’s price also began to rise. The price of Shiba Inu reached $0.00001090.

The SHIB currency has increased 8,000% in the last year, according to data from Coinbase.com.

Several responded to Musk’s Floki post, including the founder of Dogecoin, who goes by the Twitter handle of Shibetoshi Nakamoto.

He simply said, “I like this,” in response to the picture of Floki.

Musk has been a strong supporter of Dogecoin, posting about the currency on Twitter, often calling it the “people’s crypto.”

Musk also has a dog named Marvin.