Floki is announced as the new CEO of Twitter by Elon Musk the owner of the social media platform Twitter. Elon Musk’s dog Floki is right now trending in the news so is the crypto coin with the same name, Floki.
Musk tweeted a photo of his dog seated as the CEO. The dog was wearing a minimal black t-shirt with the tag CEO. On a paper placed before the dog on the desk, a large logo of Twitter was seen. Further was the dog’s name, Floki; the title of the dog, Chief Executive Officer, and the inked paw print of the dog in the signature section.
Musk posted in a continued series of tweets that the new CEO was amazing and was great with numbers.
Meanwhile, a crypto coin having the same as the dog, Floki Inu, accelerated above 50 percent in the last 24 hours.
Now hailed as the official currency of Twitter is the DogeCoin, a cryptocurrency that is considered the first dog coin and also the first meme coin. It was created as a joke coin and is now traded against both fiat currencies and cryptocurrencies.
Musk took over Twitter last year in a million-dollar deal and fired the platform’s CEO Parag Agarwal. After appointing Floki as the new CEO Musk said that his dog was however better than the other guy, an attack on Agarwal.
Towards the end of December of the last year, Elon Musk released a poll on Twitter asking the users whether she should step down as the CEO of Twitter or not. He had mentioned that he would adhere to the result of the poll. The majority of the users voted for him to step down from the CEO position. Following this, he said that he would immediately do it once he found the perfect personality fit for the job.
Previously Elon Musk had favored Dogecoin by saying that it was a potential currency. Musk has been a long-time supporter of the canine coin. His actions from the past have resulted in the coin having significant jumps.
Dogecoin had a hike of 20 percent earlier in April 2022, upon the news that Musk owns 9.2 percent of the shares in Twitter after his investment. The coin had another jump when the 44 billion US Dollars Twitter buyout of Musk was announced.
The coin was pumped further in December 2021 when Musk announced Tesla’s plan to collaborate with Doge to produce merchandise. A continued pump was in January 2022 when Musk confirmed the collaboration plan.
Also read: Elon Musk To Step Down As Twitter CEO? Timeline Of Events
Earlier there were speculations that Twitter would provide a test bed for doge adoption and experimentation for different uses.
Dogecoin was launched nine years ago in 2013 by Billy Markus and Jackson Palmer, Since then Dogecoin has served to uplift other canine coins as well.
Dogecoin serves as an altcoin in the market and has a large user base.
Just yesterday on Feb 14, 2023, Floki announced the partnership with Pyth Network a provider of real-time on-chain market data or crypto.
Further, it serves data to equities, forex, and commodities to smart contracts to more than 13 blockchains that are aggregated securely from above 70 main market participants listed as Binance, Jane Street, Cumberland, OKX, DRW, and CBOE.
The origin of Floki Inu commonly referred to as Floki, could be traced back to a tweet by Musk. He stated that he had made the decision to name his Shiba Inu breed puppy Floki.
This resulted in the swamping of several dog coins. The coin by the name Floki Inu surged to prominence among these.
Floki Inu holds a third position among the most popular meme coins. Floki Inu is topped by Dogecoin and Shiba Inu in second and third positions respectively.
Last week witnessed Floki Inu becoming the most purchased token on the $BNB chain, a distributed blockchain network.
It runs as a specialized oracle solution for latency-sensitive financial data that is generally kept behind the closed platforms of centralized institutions. The specialty is that Pyth Network is doing all these in the most inexpensive way possible. These recent actions are making Floki look more legitimate than ever.
Floki is surging towards an improvised ecosystem. Floki also announced the latest developments in plan with the announcement. Floki management said that this was a gateway to unlock the unlimited possibilities.
However, it would not cease at the oracles or price feeds. The announcement said that the Floki price feed setup by Pyth Network would significantly enhance the utility of the FLOKI token and would unlock unlimited possibilities for the Floki Ecosystem.
It continued that the current plan would include DeFi integrations with lending/borrowing platforms, staking, and much more.
The Floki token is now available on CoinSpot, the biggest exchange in Australia.
