Elon Musk's Puppy Pic Caused This Obscure Cryptocurrency To Surge Nearly 1,000%

In the image, the puppy is sleeping blissfully unaware of the ripples its photo has created in the cryptocurrency world.

Elon Musk shared a picture of his pet Shiba Inu puppy, Floki.

Elon Musk has done it again. Thanks to a tweet by the Tesla and SpaceX founder, prices of cryptocurrencies including Dogecoin and several obscure tokens saw a surge in the last 24 hours. So, how did Mr Musk achieve this? All Mr Musk had to do was share a photo of his new pet dog, a Shiba Inu puppy. In the image, the puppy is sleeping blissfully unaware of the ripples its photo has created in the cryptocurrency world. Along with the photo, the billionaire wrote in the caption “Floki has arrived”. Soon enough, Mr Musk's tweet went viral.

And before long, there were tangible effects of the tweet, with several cryptocurrencies with names similar to that of the dog recording a spike in prices.

Take a look at the tweet here:

The winner in terms of price spike among Floki-themed currencies was Shiba Floki, which saw a record surge of 958.09 per cent within 24 hours of the tweet being posted, Coin Market Cap revealed. Currently, the currency is witnessing a 648.39 per cent surge.

Other cryptocurrencies such as Floki Inu surged 59.08 per cent in the last 24 hours, while Floki Shiba has risen by 23.46 per cent in the same time period.  According to The Independent, “150 per cent price spike was mirrored across other alternative cryptocurrencies with similar names, including Floki Shiba and Super Floki.”