In the cryptocurrency universe, memes have proven to have unexpected power, and dog-inspired coins have led the way. Dogecoin, born in 2013 as a joke based on the meme «Doge», and Shiba Inu (SHIB), launched in 2020 as a supposed “Dogecoin killer,” are household names in the crypto market. However, another canine coin has emerged with a vengeance: Floki Inu, directly inspired by Elon Musk’s dog, a Shiba Inu named Floki. Not only is this cryptocurrency named after the mogul’s pet, it has capitalized on its influence to become a phenomenon worthy of attention.
Floki inu Floki Inu emerged in June 2021, created by an anonymous group of developers who capitalized on the popularity of Musk and his new puppy. It all started when Musk tweeted in March of that year: “I’m getting a Shiba Inu.” Months later, in September, he shared a photo of little Floki with the caption “Floki has arrived,” unleashing a wave of speculation. Unlike Dogecoin, which Musk pushed with jokes and comments on social media, or Shiba Inu, which grew as a spin-off, Floki Inu has a more personal tie: it is named after his dog, a real Shiba Inu that has appeared in viral photos, such as one on the front trunk of a Tesla.
Built on the Ethereum blockchain, Floki Inu has a total supply of 10 trillion tokens (FLOKI). While it lacks practical utility beyond speculation, its creators have attempted to give it a purpose, associating it with projects like the Million Gardens Movement, a charitable initiative led by Kimbal Musk, Elon’s brother. However, its real driving force has been the community and the “Musk effect.” Whenever the tycoon mentions Floki — such as when he joked in 2023 that his dog was the “CEO of Twitter” — FLOKI’s price tends to skyrocket. That tweet, accompanied by an image of Floki at a desk, sent the token up 200% that year, temporarily outperforming Dogecoin and SHIB.
Unlike Dogecoin, which reached a market cap of $50,000 billion in 2021, or SHIB, with its viral boom, Floki Inu operates on a smaller scale, but its growth has been remarkable. Its strategy includes aggressive advertising campaigns, such as posters on the London Underground with the slogan “Missed Doge? Get Floki.” This combination of marketing and implicit endorsement from Musk has made it a favorite among memecoin fans.
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However, like its canine predecessors, Floki Inu is highly speculative and volatile. Its value depends on community enthusiasm and winks from Musk, rather than solid fundamentals. Still, its story shows how a real pet and the charisma of a figure like Elon can transform a joke into a multimillion-dollar cryptocurrency.
