Shiba inu cryptocurrency rockets 216 per cent in a week (with help from Elon Musk’s tweets about his puppy Floki)


A tweet by Tesla’s boss late on Sunday night US time with a picture of a dog and the comment, “Floki Frunkpuppy”, may have also contributed to the frenzy. That followed a tweet in June that said, “My Shiba Inu will be named Floki” and one last month that read: “Floki has arrived.”

Shiba inu was founded by an anonymous person going by the name Ryoshi last year, and the coin’s website refers to it as “a decentralised meme token that evolved into a vibrant ecosystem”.

It appears to have been made in the vein of dogecoin, a cryptocurrency that was created as a joke in 2013 – also with a shiba inu meme – but has since become a popular token that’s used for payments by some sports teams, AMC theatres and others.


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