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In a recent interview on Twitter Spaces, Tesla and SpaceX CEO and Twitter owner Elon Musk brought up his Shiba Inu breed dog, Floki, jokingly stating that the canine has already taken over Twitter. Known for his influence on the cryptocurrency market, particularly with meme tokens, Musk's comments usually have a significant impact on the prices of related coins. However, this time, the reaction from the cryptocurrency Floki Inu (FLOKI) was surprisingly muted.
Floki Inu is a meme-based cryptocurrency that has often responded to Musk's tweets and comments in the past, experiencing substantial price movements as a result. In this instance, though, FLOKI saw a mild 0.5% recovery following Musk's remarks, forming a candlestick reversal pattern at the bottom of its local downtrend. This lackluster response indicates that the market may not be as influenced by Musk's tweets as it once was, at least concerning Floki Inu token.
During the Twitter Spaces interview, Musk also added, "He has a black turtleneck & husky voice – what more do you need!?" referring to his dog Floki. Despite the lighthearted nature of his comments, the cryptocurrency market's muted response to Musk's mention of Floki is noteworthy.
It is possible that the lack of momentum in FLOKI's price following Musk's comments could be attributed to several factors, such as market conditions or shifting sentiment among investors. Additionally, the growing maturity of the cryptocurrency market may be contributing to the reduced influence of high-profile individuals like Musk on the prices of meme-based tokens.
The recent Twitter Spaces interview featuring Elon Musk and his mention of his dog Floki did not result in any significant price action for the Floki Inu cryptocurrency. This muted response may indicate a change in the market's sensitivity to Musk's comments on meme-based tokens, or it could be a reflection of broader market conditions and investor sentiment.
Godfrey Benjamin
Vladislav Sopov
Dan Burgin