Elon Musk's Dog Floki Santa Tweeted to the Moon, Then Crashed by 60%

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.

The world’s richest man posted an image of his dog dressed as Santa on Twitter, and captioned it “Floki Santa.” It doesn’t seem like anything out of the ordinary. But the token named after the dog rallied by five digits in the following hours. It quickly made a sharp move to the south.

Floki Santa pic.twitter.com/y3CTq16bGi

— Elon Musk (@elonmusk) December 25, 2021

Elon Musk is known for his influence on memecoin prices in the cryptocurrency industry. But beyond that, his name is synonymous with some of the most well-known companies in the world today.

Some of Musk’s tweets that weren’t directly related to digital assets drove huge gains. The latest example came on Christmas Day, when the billionaire shared a photo of Floki, his dog. 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. But 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 (ticker HOHOHO) – decided to capitalize on the opportunity. They realized 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 went up in the following hours and days. 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 about 48 hours.

However, the meme coin has since declined 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.

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