Elon Musk’s X Post Triggers Floki Memecoin Surge

American entrepreneur Elon Musk sparked a short-term price rally in the memecoin market with a playful message on his social media platform X. Musk shared a post stating that his pet Shiba Inu, Floki, was back in charge as CEO of X. The post featured an AI-generated video of Floki in a business setting, speaking to the ‘numbers’ question. 28.8% price increase was registered for Floki (FLOKI) after the post went live on Monday, before retracing slightly.