Elon Musk blew up a meme coin by 18,840% in just 2 days

The crypto space has seen another amazing rally fueled by a tweet from the world’s richest man, Elon Musk.

In addition to being CEO of some of the most famous companies today, Elon Musk has been linked to several coin memes in the crypto space.

The influence of Elon Musk doesn’t just stop at Dogecoin (DOGE), but also provides impetus for meme coins with dog motifs such as Shiba Inu (SHIB), Dogelon Mars (ELON) and even Baby Doge Coin (BABYDOGE).

Even the tweets with no obvious exposure to Elon Musk’s digital assets have resulted in amazing returns on the coin memes that the community deems relevant.

The last one was on December 25th when Elon Musk shared a photo of his dog named Floki in a Santa suit and he tweeted “Floki Santa”.

https://twitter.com/elonmusk/status/1474860884359094275?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
This is completely normal because it is Christmas time. However, a cryptocurrency with a similar name, Santa Floki (HOHOHO), gained thousands of percent before being dumped shortly afterwards.

The creators of the digital asset of the same name, but written in reverse, decided to take this opportunity and to explain that Musk tweeted about their project, not just dogs like he’s done in the past.

The creators of Santa Floki also claim that their cryptocurrency is based on the philosophy that those who want to do good should meet and contribute to those who are less fortunate.

“We believe in the principles of wealth-sharing through passive income and plan to donate to reputable charities like Save The Children.”

The HOHOHO price rose from $ 0.00000012935 to a new all-time high (ATH) of $ 0.00000245 on Monday, up 18,840% in about 48 hours.

HOHOHO price table | Source: CoinGecko

Since then, the HOHOHO price has fallen more than 60% and is currently trading at $ 0.00000079.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.