On October 20, 2025, Tesla and SpaceX CEO Elon Musk posted on X, declaring "Floki is back on the job as X CEO," accompanied by an AI-generated video of his Shiba Inu dog created using xAI's Grok Imagine model. The video depicted the dog in business attire and sunglasses, set in a luxurious office, and quickly garnered millions of views.
The post triggered a sharp price increase for the meme coin FLOKI, with data from CoinGecko showing gains of over 15% to 27% within hours, alongside a significant rise in trading volume. This surge echoes Musk's historical impact on meme coins; in 2021, a similar post about his dog named Floki led to a 1,000% price spike in two days for an obscure token.
FLOKI, initially inspired by Musk's pet, has grown into a broader ecosystem supported by the "Floki Vikings" community. It now includes the Valhalla metaverse game, an NFT marketplace, and the FlokiFi DeFi platform for staking and yield farming. Developers have been focusing on multi-chain expansion and real-world integration throughout 2025, with upgrades planned for Q4.
However, skepticism arose as crypto influencer Quinten Francois noted that the price began rising before Musk's post, raising questions about potential insider trading. Analysts warn that such Musk-driven rallies are often short-lived, reflecting his role as a sentiment trigger that fuels FOMO and liquidity bursts in retail-dominated assets.
Despite this, Musk's influence remains potent, reigniting nostalgia for crypto's meme-coin era and validating FLOKI's revival narrative in a market increasingly dominated by institutional players.
BTC
SOL
XRP
MIM