Floki Inu logo
Source: Floki Inu Twitter

Floki Crypto Soars After Elon Musk Tweet—Is It a Good Investment?

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Sep. 14 2021, Published 8:52 a.m. ET

Floki Inu surged to a new high on Sep. 13 after Tesla CEO Elon Musk tweeted about the arrival of his Shiba Inu puppy. If you’ve some money to invest in a Dogecoin-type meme coin, you may want to know where to buy Floki crypto.

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Floki is a community-driven joke crypto in the mold of Dogecoin, Shiba Inu, Kishu Inu, and Babydoge. The Floki community has another dog-themed cryptocurrency, called Floki Shiba (FSHIB). While Floki Inu is based on the Ethereum blockchain, Floki Shiba runs on the Binance blockchain.

Why Floki soared following Elon Musk’s Shiba puppy arrival tweet

Both the Ethereum-based and Binance-based Floki tokens spiked to all-time highs after Musk tweeted about the arrival of his little Shiba Inu dog. When Musk disclosed in Jun. 2021 that his Shiba dog would be called Floki, the creative community launched several Floki-named cryptocurrencies. Many hoped to replicate the success of Dogecoin, which has gained more than 100,000 percent over the past five years. As expected, Floki tokens surged after Musk confirmed the arrival and name of his Shiba pet.

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Source: CoinMarketCap
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Elon Musk on Dogecoin, Floki, and Babydoge

Musk is one of the world’s richest people alongside Jeff Bezos. In addition to running electric vehicle company Tesla, Musk owns overseas space company SpaceX. The controversial billionaire, who likes jokes, often mentions meme-based cryptos in his tweets. Favorable mentions by Musk have sent Dogecoin, Babydoge, and Floki soaring. The Tesla boss is particularly fond of Dogecoin and has even asked fans if they would like to see Tesla accept DOGE payments for car purchases.

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Floki's price prediction

As there's little substance in Floki beyond the joke associated with Musk’s Shiba puppy, its price is prone to fluctuation. While Floki might not be a great long-term investment, it may be worth getting exposure to if you’ve money you can afford to lose.

We just need to look at Dogecoin to see it's possible to get rich trading a meme coin, and like Coinbase co-founder Fred Ehrsam has said, you should never dismiss a good meme. It’s possible Floki's value could increase tenfold by the end of 2021.

Where to buy Floki crypto

Floki Inu hasn’t secured a Coinbase listing yet, but you can buy the Shiba-themed altcoin on Uniswap, PancakeSwap, 1Inch, and Hobit. As for Shiba Floki, you can also buy it on PancakeSwap and LBank. However, you’ll need to use other cryptocurrencies such as Bitcoin or Ethereum to buy them, as the exchanges don’t support Floki purchases with the U.S. dollar.

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