Why Floki Token Price Is Up Today?

Floki Inu (FLOKI), the popular meme-inspired cryptocurrency, surged nearly 30% in the past 24 hours, emerging as one of today’s top-performing tokens. The surge came after billionaire Elon Musk shared an AI-generated video of his Shiba Inu “Floki” sitting at a CEO desk, sparking the new excitement in the meme coin market.

Elon Musk’s Post Sends Floki Up 30%

Floki saw a strong rally late Monday after Elon Musk posted an video of his Shiba Inu dog “Floki” dressed as the CEO of X, a fun reference to his past posts that often shakes up dog-themed coins.

The post instantly sparked an 817% jump in FLOKI’s trading volume, pushing 24-hour transactions past $656 million and lifting the price near $0.0000882, its highest in nearly two weeks.

Strengthened Meme Coin Sentiment

The rise in FLOKI coincides with broader bullishness in meme tokens, as Dogecoin (DOGE) and Shiba Inu (SHIB) also posted modest gains in early trading. 

Social volume on platforms like X, Reddit and Telegram jumped more than 65% for FLOKI, according to on-chain analytics shared by Santiment, while the Fear & Greed Index in crypto markets moved from 37 (Fear) to 52 (Neutral), showing growing retail participation.​

Floking Chart Eyeing $0.000015 Target

Elon Musk’s latest endorsement has fueled a breakout move for Floki, which is showing a strong bullish setup near the key demand zone of $0.00009.

Analysts point out that FLOKI has formed a bullish pattern on the weekly chart, often a sign of an upcoming rally. The token recently lost its trendline support but is now retesting it. 

If it closes above $0.00009, it could climb toward $0.00011, with a possible run to $0.00015 if buying volume continues.

On the flip side, failure to reclaim this level may lead to a drop toward $0.00004.

As of now, Floki is trading around $0.00008, up nearly 10% in the last few hours with a market cap hitting $712.85 million.