Doge, Floki Soar after Musk Tweets Photo of his dog on Twitter CEO Chair

2023-03-02, 09:21

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![](https://gimg2.gateimg.com/blog/1648604234661497992_Gate.io_%E7%83%AD%E7%82%B9%E8%BF%BD%E8%B8%AA_web_en.jpg)
The price of Floki Inu rose by a greater margin than that of ETH, BTC, <a href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a> or <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a>.

Floki is different from other meme coins since it has several use cases such as supporting a gaming metaverse platform. 
The price of Floki meme coin has risen by over 430% within the first two months of 2023.

Floki’s key products include FlokiFi (A suite of decentralized finance products) FlokiPlaces (an NFT marketplace) and University of Floki (A content and education platform).

Keywords: <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a>, meme coin, Elon Musk, pet Floki, Elon Musk tweet, meme coins, Floki Inu price, Floki dog, ETH, BTC
## Introduction 
There are various factors that determine the prices of cryptocurrencies which include market sentiment, token utility and hype. Similarly, the actions of influencers and celebrities can affect the prices of cryptocurrencies. Today, we explore how Elon Musk tweet influenced the demand and price of Floki, the popular meme coin. 
## Elon Musk’s Twitter post
Recently, Elon Musk posted several tweets about his pet dog Floki, of Shibu Inu breed. Incidentally, the Shibu Inu dog also [represents Dogecoin](https://www.gate.io/learn/articles/what-is-dogecoin/36 "represents Dogecoin") cryptocurrency.  Musk’s most trending tweet is about his  pet dog Floki seated on a chair, wearing a T-shirt branded CEO. Notably, there are documents and a laptop on the table in front of that dog.

The tweet also includes the words, ““much better than the other guy.”  Some of Elon Musk’s Twitter followers interpret these words differently. Some of them suggest that Musk’s words mean that the dog would be a better Twitter CEO than the former CEO, Parag Agarwal.

However, other commentators said that Musk’s words simply mean that his Floki dog would be a better CEO than himself, since he has been the CEO from the time he took over Twitter. 
![](https://gimg2.gateimg.com/image/article/16777485261.png)
Musk’s pet dog Floki sitting on Twitter CEO Chair- Twitter

The above image shows Musk’s beautiful Floki dog. 
## What is Dog Floki coin? 
Floki, also [called Floki Inu](https://www.gate.io/startup/186 "called Floki Inu"), is a meme coin or one of the dogcat coins which is trending in the crypto market. A team of unknown developers were inspired by Elon Musk, the CEO of Tesla, to develop Floki, a cryptocurrency that exists on both the <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> blockchain and Binance smart chain since it is an ERC20 as well as BEP-20 token.

Although Floki started as a meme coin, the developers have turned it into a web3 based project which will have an [impact on NFTs](https://www.gate.io/learn/articles/what-are-nfts/4 "impact on NFTs") and the metaverse. The team’s latest vision is to have its blockchain which will be focused on charitable initiatives, a reason why it is called “The People’s Crypto.” For example, one of its key charitable missions is to build schools in developing countries.

The team behind Floki has also partnered Million Gardens Movement, founded by Kimbal Musk who is Elon Musk’s brother. Also, the fact that Floki is backed by a meme movement focused on helping  less privileged members of the global community makes it very popular.

Floki Inu, through two DeFi protocols, Inverse Finance and BarnBridge, offers various financial services. For example people are able to stake Floki through Inverse Finance. They can also use Floki as collateral to borrow other cryptocurrencies such as ETH.

In addition, Floki inu has partnered with Nowpayments, an established crypto payment gateway which accepts Floki as a means of payment. People can also use Floki at other online marketplaces such as CryptoCart and Curate (XCUR). These cases show that Floki has much utility in the crypto and metaverse spaces. 
![](https://gimg2.gateimg.com/image/article/16777485852.png)
Users can make payments at NowPayment using Floki- NowPayments

As we speak Floki is working on a number of related projects which include Valhalla- a metaverse gaming platform, FlokiFi- A suite of decentralized finance products, FlokiPlaces- an NFT marketplace and University of Floki- A content and education platform. 
## Floki Inu price movement 
Since January 2023 there has been a growing interest in Floki leading to its  rally and high trading volumes.

As the global crypto market showed some positive price movements during January and February the price of Floki  increased significantly. For example, the Floki Inu price rose by 95% within 24 hours stretching from 15 to 16 February. That was a significant price rise since it outperformed major cryptocurrencies such as ETH and BTC which gained 8% and 11%, respectively during the same period.

Floki Inu also performed far better than [the other meme coins](https://www.gate.io/learn/articles/in-demand-meme-coins-a-deep-dive/410 "the other meme coins"), <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a> meme and <a href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a> which gained 3% and 6% during the quoted period. More significantly, Floki inu had a cumulative price increase of 430% within a 30-day period that ended at 16 February 2023.

It is also important to note that the trading volume of Floki increased during that period. For instance, Dutch exchange Litebit reported that the Floki inu’s trading volume increased by 46% during the stated period. 
## How to buy Meme coins on Gate.io
It is very easy to buy and own meme coins at Gate.io. The first step is to create an account and get verified. After that, you fund your account using USDT. Alternatively, you can <a href="/how-to-buy/tether-usdt" target="_blank" class="blog_inner_link">buy usdt</a> or any major tokens like ETH [using a Credit card](https://www.gate.io/buy_crypto?method=card&fiat=PLN&type=buy "using a Credit card").

Once you have USDT in your trading wallet you will be able to buy any cryptocurrency including meme coins such as Floki. In this case, you select Floki since it is paired against USDT in the [spot trading section](https://www.gate.io/trade/BTC_USDT "spot trading section").  
![](https://gimg2.gateimg.com/image/article/16777486333.png)

Once you click on the Floki/USDT pair you will be able to enter the amount of FLOKI you want to purchase, then click “ Buy Floki.” Similarly, you can convert any of the major cryptocurrencies like BTC to Floki. 
## Conclusion
Recently, Elon Musk posted a trending Twitter post of a Floki dog sitting on a Twitter CEO chair. This has led to a surge in the price of the Floki Inu meme coin which has outperformed both <a href="/price/dogecoin-doge" target="_blank" class="blog_inner_link">Dogecoin</a> meme and <a href="/price/shiba-inu-shib" target="_blank" class="blog_inner_link">Shiba Inu</a>. In fact, the dog Floki coin has gained much since the start of 2023.

<div class="blog-details-info">
<div>Author: **Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>