Pet Shiba Inu will be named Floki, says Elon Musk; Cryptocurrency rises

Tesla founder Elon Musk to name his Shiba Inu as Floki. Soon after his Tweet at 4:33 pm IST on Friday (June 25), the prices of Shiba Inu coin witnessed a 16 per cent rise when it reached $0.00000790 on CoinMarketCap at 4:53 pm IST, reported CNBC.

With over 57.5 million followers on the Twitter handle, Musk’s followers invested in the new cryptocurrency.

My Shiba Inu will be named Floki

— Elon Musk (@elonmusk) June 25, 2021

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Shiba Inu coin is considered a rival of Dogecoin as they both have the similar symbols of the Japanese breed dog.

Shiba Inu coin also has the nickname “dogecoin killer.”

Meanwhile, the official website of Shiba Inu describes itself as an experiment in decentralised spontaneous community building, founded in August 2020.

Here is what his followers commented:

Shiba Inu jumps as Elon Musk drop hints over huge pump; Price analysis