Elon Musk has once again promoted his floof-coin Dogecoin (DOGE) after tweeting the new chief executive of Twitter: his Shibu Inu Floki.
Floki is the name of a cryptocurrency similar to Dogecoin and Shibu Inu, which feature the Japanese dog breed. Prices for Floki jumped 50 percent after news of the tweet.
Musk tweeted at the time: “The new CEO of Twitter is amazing.” News of the tweet sent the price of Dogecoin (DOGE) skyrocketing from 0.08294 to 0.89 at its peak, or a jump of 5.4 percent, CoinMarketCap data revealed.
Following Musk’s acquisition of Twitter in late October, he replaced former Twitter CEO Parag Agrawal after a suspected row between the two executives. Musk unfollowed Agrawal on Twitter after the former became the largest shareholder of the company.
After the incident, Musk posted a poll on whether he should resign as CEO of the firm, but later lost his position after people voted him out.
He said in a tweet in December: “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”
According to reports, Floki’s price doubled after its decentralised autonomous organisation (DAO) passed measures to burn $100 million in tokens.
This decreases token supplies and boosts the value of remaining ones by decreasing circulation numbers.
Twitter Updates, DOGE Pupdates
News of the latest senior appointment to Twitter comes after Musk pumped DOGE to roughly 8 cents in late October. Circulating reports that Twitter could develop wallets for cryptocurrencies triggered the 40 percent spike in the altcoin’s value. Further reports confirmed the measure.
Twitter started its application processes for licencing across the United States for the pending payment system. Working with product manager director Esther Crawford, Musk hoped to open the services for “peer-to-peer transactions, savings accounts and debit cards.”
Additional news broke in August last year after the Ethereum network launched its long-awaited software update. The developments pushed Dogecoin up 14 percent over five days time and Shibu Inu roughly 40 percent, data from Bloomberg revealed at the time.
