Elon Musk’s Take on $FLOKI — Market Reacts Mildly
In a recent Twitter Spaces interview, Elon Musk, CEO of Tesla, SpaceX, and owner of Twitter, mentioned his Shiba Inu dog, Floki, joking that the canine has “already taken over Twitter.” Known for his influence on meme cryptocurrencies, Musk’s comments often trigger notable price movements. However, this time, Floki Inu (FLOKI) saw only a muted reaction.
Historically, Floki Inu has responded sharply to Musk’s tweets, often experiencing large swings in value. Following this latest mention, FLOKI recorded a minor 0.5% recovery, forming a candlestick reversal pattern at the bottom of its local downtrend. This limited response suggests the market may no longer be as reactive to Musk’s remarks regarding Floki Inu.
During the interview, Musk added a playful comment about his dog:
"He has a black turtleneck & husky voice – what more do you need!?"
Despite the humor, the cryptocurrency market’s subdued response is notable. Analysts suggest several factors could explain the muted price movement: prevailing market conditions, evolving investor sentiment, or the increasing maturity of the crypto market, which may reduce the outsized influence of high-profile figures on meme tokens.
In summary, while Elon Musk’s mention of Floki brought attention, it did not drive significant price action for FLOKI, indicating a potential shift in how meme-based tokens respond to celebrity endorsements or market hype.