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Floki Inu (FLOKI) has surged approximately 30% in the past 24 hours, making it the most talked-about memecoin. The rise followed Elon Musk’s post of an AI video featuring his Shiba Inu dog, Floki, as a CEO. This video quickly went viral, resulting in a significant spike in the coin’s trading volume and leading to its highest price levels in the past two weeks.
Elon Musk’s Impact on Floki Inu’s Trading Volume
On Monday night, a video shared on social media platform X portrayed Musk’s dog in a suit, taking on the role of CEO. This entertaining content captured attention swiftly, leading to FLOKI’s trading volume soaring by 817% to hit $656 million. Concurrently, the coin’s price ascended to $0.0000882, marking its peak for the last fourteen days. As a result, the market cap approached $712.85 million, rekindling investor interest.
Analysts pointed out that Musk’s previous posts had also energized assets similar to Dogecoin 
$0.152206 and Shiba Inu. Social media mentions of Floki rose over 65%, with Santiment data indicating a swift recovery in investor sentiment. At the same time, the Crypto Fear & Greed Index, a measure of market sentiment, increased from 37 to 52, revealing growing investor appetite.
The Next Target: $0.00015 but Risks Remain
Despite backing from Musk, Floki Inu lost 10% of its gains, yet it maintained strong momentum around the $0.00009 demand zone. According to analysts, sustaining above this level could pave the way for potential growth toward $0.00011 and eventually $0.00015. The continuation of increased trading volume is critical for the upward trend’s sustainability.
Conversely, analysts warn that closing below the $0.00009 mark for one or more days might trigger a short-term correction down to $0.00004. Floki’s trading chart signals a bullish pattern on a weekly scale. This suggests that Musk’s influence could lead to a technical breakout alongside the social media buzz.
According to CryptoAppsy data, at the time of writing, Floki Inu is experiencing a 10.51% drop over the past 24 hours, trading at $0.00007408.
