Elon Musk’s social media post featuring his Shiba Inu dog, Floki, has sent the memecoin market into a frenzy. The playful video of Floki as CEO saw the FLOKI token surge over 28%, reflecting the continued influence of Tesla and SpaceX CEO on speculative crypto assets despite recent market turbulence. 📈 🐶 This latest development follows a turbulent October for memecoins, with the broader category suffering significant losses after a major sell-off that impacted its market capitalization by almost 40%. Though recent rallies offer temporary hope, the sector still grapples with the lasting effects of a recent crypto crash and faces ongoing challenges in achieving sustained growth.