Elon Musk sent FLOKI price soaring after posting a new video on social media. To demonstrate Grok's video-making abilities, Musk used FLOKI as an unofficial mascot.
While FLOKI recently gained after being listed on a European ETP, the Black Friday crash wiped out all those gains. The 30% increase following Elon’s post helped the Token recover significantly.
Elon makes FLOKI go up
Elon Musk has had a strong impact on the meme coin space , with his business decisions and social media posts driving massive Token volatility.
Today was no exception, as Elon posted a new video with FLOKI as the mascot, sending related assets soaring:
Notably, Elon posted this FLOKI video to demonstrate Grok's AI video creation capabilities. He also caused meme coin price spikes by teasing these in-development features, but it seems X will not be spinning off Grok videos into a separate app at this time.
Chaotic price fluctuations
Regardless, Elon's post was a big boost for FLOKI, the meme coin. The Token fell sharply after the crypto market's Black Friday earlier this month, and has remained flat until today.
However, with this new post, FLOKI is up around 30%, recovering much of the lost gains from the crash:
FLOKI Price Performance . Source: CoinGeckoIn 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 big boost. However, the Black Friday crash wiped out all those gains, and Elon seems to be the best prospect to reverse the trend.
Of course, Elon’s social media posts may not be a reliable boost for FLOKI in the long term. It’s impossible to predict which Token he will focus on; while CZ has consistently shown support for some projects, Musk’s backing is often temporary .
Whatever happens next, this has been a huge boost for FLOKI. Hopefully the project continues to capitalize on this moment in the spotlight.
