Elon Musk triggered a rally for FLOKI after sharing a new video on social media. He showcased Grok’s video creation capabilities, using Floki as an unofficial mascot.
FLOKI had recently surged following its listing on a European ETP, but the Black Friday crash wiped out those gains. The 30% increase spurred by Elon’s post has significantly aided the token’s recovery.
Elon Causes FLOKI Rally
Elon Musk has explosively influenced the meme coin market, with his corporate decisions and social media updates generating substantial token fluctuations.
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Today is no exception, as Elon shared a new video featuring Floki, leading to a notable rise in the associated asset:
Specifically, Elon shared this Floki video to highlight Grok’s AI-driven video capabilities. He has also triggered meme coin surges by teasing these features in development, although it appears X won’t be partitioning Grok videos into a standalone app for now.
Chaotic Price Fluctuations
Regardless, Elon’s post proved to be a significant advantage for FLOKI, the meme coin. The token faced a severe downturn after crypto’s Black Friday earlier this month and had remained dormant until today.
However, with this latest post, FLOKI surged approximately 30%, recuperating much of the losses from the crash:
In other words, if Elon Musk continues to show interest in Floki like this, it could lead to a broader recovery. Earlier this month, a FLOKI ETP launched in Europe, giving the token a significant boost. However, the Black Friday crash negated all these gains, and Elon seems to be the best chance for a reversal.
Of course, Elon’s social media posts may not provide a stable long-term boost for FLOKI. Predicting which token he will focus on is tricky; while CZ consistently supports several projects, Musk’s endorsements are often fleeting.
No matter what happens next, this has given FLOKI a substantial lift. Hopefully, the project will continue to leverage its moment in the limelight.
