Did Elon Musk Just Call a Shiba Inu a "DogeKiller"? The price of SHIB has increased by 11%.

 

While the flagship cryptocurrency and other important cryptocurrencies continue to struggle to break out of their bearish state and surge to key levels. DOGE and SHIB, the parody coins/rivals, are soaring, thanks in large part to the Dogefather Elon Musk, or should we call him the Shibfather now?

Elon Musk, the CEO of Tesla, highlighted Shiba Inu in a recent tweet. Shib Inu price momentum has taken off as a result of the tweet. Within minutes of his post, the token surged from 0.00000672 to 0.00000849 before plummeting to 0.00000739 again.

It is now worth $0.000007472, an increase of 11.6 percent in the last 24 hours. The trading volume has increased by 80.97 percent. It'll be interesting to see how long "The Musk Effect" lasts.

Elon has announced that his Shiba Inu will be named Floki on Twitter. What does Floki mean? It's a play on the fictional character of the "genius shipbuilder" from the popular Vikings film series.

Micheal Van de Poppe, a well-known crypto specialist, has also responded through Twitter. He claims that a tweet can only have a direct effect on the price of a token in crypto.

The cryptography Some trolls on Twitter also claimed that a token called Floki Coin would be developed within hours.