Tesla’s owner and crypto’s most notorious influencer Elon Musk tweeted on the 25th of June his new Shiba Inu will be named Floki, which promptly led to a frantic launch of a myriad of meme tokens exploiting the name.
As expected, scams popped up among these purposeless and ad hoc created coins but nonetheless, some attracted massive attention and funds, such as the Ethereum (ETH) token Floki Inu ($FLOKI), which quickly skyrocketed in value only to leave investors disillusioned and hustled.
Not a dog, but another cat in the bag
Historically, Elon Musk’s tweets moved the market in a big way, resulting in the issuance of a trillion Floki Inus, the price of which was driven by the hype.
My Shiba Inu will be named Floki
— Elon Musk (@elonmusk) June 25, 2021
Equally fast, Floki Inu encountered problems as investors realized there were issues with the contract, eventually raising red flags due to users receiving error messages after withdrawing or selling the meme token bought on
Źródło: https://cryptoslate.com/dogecoin-rival-token-floki-rugpulls-twice/
