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Elon Musk sparks FLOKI rally with AI dog video
On October 20, a post by Elon Musk about his dog Floki boosted the meme coin of the same name by more than 30%. The price of FLOKI surged by roughly a third to $0.000088 before cooling slightly to $0.000085.
The sharp rise was triggered by Musk’s post on social network X, where he shared an AI-generated video created by Grok. In the clip, his dog — wearing glasses and a business suit — sits at a desk and says, “Numbers, numbers, numbers? Working? Yay.”
The post was titled “Floki returns to work as CEO of X,” reminding the crypto community about the meme coin and sparking a surge in demand for FLOKI tokens. As a result, FLOKI’s trading volume jumped by more than 700%, reaching $493 million.
Elon Musk remains a big fan of dog-themed meme coins
The meme coin’s rapid rally once again proved the strength of Musk’s influence on social media. In the past, he has repeatedly fueled rallies in dog-themed coins, driving speculative interest. This time, traders jumped in for quick gains, while investors anticipated another sharp move.
“FLOKI’s rally appears to be driven more by social sentiment than fundamentals,” said analyst Viktoras Karapetian. “While there’s short-term upside potential, the risk of a sharp reversal remains high.”
FLOKI price dynamics on October 20. Source: CoinMarketCap
Despite the rally, FLOKI — like other meme coins — is still under pressure following two sell-offs earlier this month. According to Blocknews, the sector’s total value fell nearly 40% during the crash on October 10–11, from $72 billion to $44 billion, and dropped another 9–11% last Friday. Even after Musk’s post, FLOKI remains 17% below its pre-crash level.
As we wrote, Elon Musk tests notification speed on X platform
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