Elon Musk accidentally created a new cryptocurrency. WTF?

[Starkick]

The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog.

He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour.

After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%.

Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC.

Is all the excitement around the project really a hype? Like chiahype and etc.?

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[bakasabo]

I think this is not an attempt "to influence the crypto market", but some tricky person just created this token to sell it during hype. Elon Musk zero relationship to this Floki token.

This is a great example of how greedy people can be and how easily they can be tricked and controlled. This is so simple. Take what ever Elon says, create a token with same name and voila, you are locked and loaded for scam sale.

[DapanasFruit]

Elon Musk is making a good joke and then somebody (or maybe a group of people) follow through with the joke by launching a project named Floki just as what Elon would name his puppy. And Floki is making a good run. I am just wondering...whoa re the people making money out of this. I am sure that the next time Elon will be making a tweet, someone can come up with a project based on what he is tweeting. I think this is just another testament that the cryptocurrency industry is made up of 90% jokers.

[Tytanowy Janusz]

I think this is not an attempt "to influence the crypto market", but some tricky person just created this token to sell it during hype. Elon Musk zero relationship to this Floki token.

This is a great example of how greedy people can be and how easily they can be tricked and controlled. This is so simple. Take what ever Elon says, create a token with same name and voila, you are locked and loaded for scam sale.

+1. Thats what we see right now. If it was Elon job he would create this token while ago and create some price action around it before tweet.
But its not that easy - create token, put it on uniswap and become milionere. You also need to have few MM$ in ETH to be able to create liquidity on uniswap big enought to not arouse suspicion. So its rich guys game.
I wonder if Elon will end like McAfee one day...

[bakasabo]

I wonder if Elon will end like McAfee one day...

I doubt that. Elon is not on drugs. At least he is not promoting shady project for money, because he has enough
Elon Musk is simply different. He does things for society, and I dont remember McAfee doing the same.

Anyway, if this Floki token was really created by Elon, he would have used some kind of promotion of it, or have created a webpage for it as a minimum. But we see only a token, that perhaps, was created in a rush and there is nothing behind that.

[Tytanowy Janusz]

I doubt that. Elon is not on drugs. At least he is not promoting shady project for money, because he has enough

Yea he has enough money but McAfee wasn't poor too. Maybe Elon is not doing it for money but for sure he is playing with people and their lives ... If I was about to make a bet i would say that he is doing that to boost his ego.
To tickle his self-esteem at the expense of people who spend weeks researching the market, doing TA, and investing taking know risk, while 1 tweet made as a joke destroys their returns. He knows that ... he don't give a fuck. In the moment when real interest rates are in ATL since 1980 and people are desperate to find good investment - he is doing it even harder for them. People who stay out of him are affected by his tweets, poeple who fallow him are baited into shitcoins "He does things for society" Yea sure XD

Not promoting shady projects? What about cumrocket? CumRocket Cryptocurrency Erupts 350% After Elon Musk Tweet

[retreat]

<...>

you are wrong to respond to this, Elon Musk has never made cryptocurrency because now anyone can easily make coins/tokens then floki are tokens created by other people.

not recommend buying this token.

[RussianEnglishTranslation]

The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog.

He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour.

After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%.

Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC.

Is all the excitement around the project really a hype? Like chiahype and etc.?

Yes, but if Elon does get a pet dog named FLOKI, you know that everyone will dump doge and shiba to buy $FLOKI. not an endorsement for the token or dog coins in general, just saying

[cryptoaddictchie]

Is all the excitement around the project really a hype? Like chiahype and etc.?

Im not sure but probably this shitcoin will be hyped for a while. You know everything that Elon tweeted someome will create a toke based on that. If Elon tweeted a cat name or do name, everyone will create a token for that and start injectimg liquidity and hype on socual media and that I think what happened here. Those nasty dev are taking advantage of those tweet from Elon Musk.

[poodle63]

Not really, you know elon is popular and his word weight something. what he mean by owning shiba inu is the real shiba inu breed not the coin shiba inu.
And he doesn't accidentally create a new cryptocurrency, it's someone else that creates that coin so that shouldn't be counted as elon creating a cryptocurrency
because this could mislead yet another people into thinking elon really make his own coin. The point being, there's always some people who gonna create a coin based on random words coming from elon.

[DapanasFruit]

Is all the excitement around the project really a hype? Like chiahype and etc.?

Im not sure but probably this shitcoin will be hyped for a while. You know everything that Elon tweeted someome will create a toke based on that. If Elon tweeted a cat name or do name, everyone will create a token for that and start injectimg liquidity and hype on socual media and that I think what happened here. Those nasty dev are taking advantage of those tweet from Elon Musk.

This is just another shitcoin and those people behind it will squeeze as much as they can to get as much money as possible. Sadly, there will always be people who can easily be swayed by deceptive strategies. I would not ever use any cent of my wallet to invest on something that is just a hype and nothing more. In fact, I would say that Floki represents what is really wrong in the cryptocurrency industry.

[leea-1334]

FLOKI token?

Did anyone watch Vikings the tv series of History Channel? Floki is the name of one of my favorite characters from there,,, but from a hero he turned into a sort of enemy of the main actors and then finally decided to go off on his own and find his own new place in the land of volcanoes and hot springs:)

Not that this is relevant at all,,, but be wary of the random unthinkables that happen in crypto!

[ChiBitCTy]

While Elon Musk may be the worlds 3rd richest person ( depending on what day it is/how the markets are moving), he is overall a fraud of what many of us thought he was actually all about.  I found this video on YouTube around the time he came out and started hating on bitcoin.  I must note, this video was made before that ever happened.  If you're like me, and thought Elon was a super genius, creator of Tesla and other great inventions...you'll be quite surprised to learn he's completely full of shit 99% of the time, not to mention a massive troll. Fuck that guy.  https://www.youtube.com/watch?v=c-FGwDDc-s8

[OcTradism]

Elon tweets, you can follow his twitter, read his tweets or ignore his twitter and his tweets.

If you see his tweets are non sense, no price movement but because many people think his tweets have power to move price on the market, price moves up because of people belief.

Even Elon makes a funny tweet, it will still have upward effect for price. Followers are stupid, but Elon is wise.

[slaman29]

Even Elon makes a funny tweet, it will still have upward effect for price. Followers are stupid, but Elon is wise.

I'm not a big fan and never was, don't get me wrong, I think anyone who can make money the way he has is either smart, or driven, or a bit of both or extremely lucky. Very few people admit that they're lucky though because of course, we do want to take credit. Wise, I'm not sure. I know he's the one with money and not me, but I don't think he did very wise moves throughout his life that I'm sure I never would have. Smart for sure but lacking wisdom.

[Sethrey]

<...>

you are wrong to respond to this, Elon Musk has never made cryptocurrency because now anyone can easily make coins/tokens then floki are tokens created by other people.

not recommend buying this token.

No matter what do you recommend or not - there will be thousands of fools that will invest in it. And the story will be the same as with chia now. Only developers will earn money and all the others will lose. That's why for now I believe in coins like CRP as it's free mining and you can gain without any investments.

[yazher]

I think this is not an attempt "to influence the crypto market", but some tricky person just created this token to sell it during hype. Elon Musk zero relationship to this Floki token.

This is a great example of how greedy people can be and how easily they can be tricked and controlled. This is so simple. Take what ever Elon says, create a token with same name and voila, you are locked and loaded for scam sale.

As you said, we don't know what they are really up to with this kind of strategy since they are prone to make things up when the crypto market has not flowed to how they want it. So, it's better to be safe than sorry because at the end of the day when the price of that new coin will reach its ATH, they will change their mind to manipulate its market then the one who will gonna lose their money are those people who invested late. However, if you are a risk-taker you can go with the flow and escape whenever you think a storm will come.

[fvb]

This is all amazing for me. On what basis do people buy these newly created tokens. For example, this Floki, just because someone got a dog. What is the use of this token?

[blockman]

They're all hype whenever Elon makes a tweet and a coin suddenly appears. It's all about his influence and these people are taking advantage of riding whatever the idea comes out from his tweet. Just like what they've done to name a new coin that he has named under his dog.
That's not new anymore and that's why those pumps and dumpers are always active to check out everything new and they know that they can make money from it. But it's dangerous for newbies to cope up with such.

[yhiaali3]

We don't need proof to prove that Elon Musk is manipulating the market, it seems that he found that his profits by manipulating Crypto are much greater than Tesla's!!! Elon Musk may not have anything to do with this Floki token, but unfortunately he encourages scammers (through his tweets) to deceive people by taking advantage of some of the names in the tweets and making worthless chit coins like what happened recently when he tweeted about BabyDoge and now Floki token.
In fact, I am completely convinced that Elon Musk does not care about the environment or clean energy. He only cares about money, so he makes deceptive statements about Bitcoin and the environment to secretly buy larger quantities and sell it later. It is really naive to think that a businessman like Elon Musk cares so much about the environment!!!