Tesla CEO Elon Musk, who frequently mentions cryptocurrencies in his Tweets, posted about the meme coin Shiba Inu (SHIB).
Related: Tesla Stops Bitcoin Payments, the Coin's Price Drops
On June 25, he wrote he's going to name his SHIB "Floki".After the tweet, SHIB's price has seen an increase. Currently, it trades at around $0.000006951. Earlier, on June 24, Musk tweeted about Bitcoin. Specifically, he joked about the coin asking how many BTC maxis it takes to screw in a lightbulb.My Shiba Inu will be named Floki
— Elon Musk (@elonmusk) June 25, 2021
How many Bitcoin maxis does it take to screw in a lightbulb?
— Elon Musk (@elonmusk) June 25, 2021
Maxis in crypto slang describes enthusiasts who find that BTC is the only digital asset that will be used in the future. They say other cryptocurrencies don't correspond to Satoshi Nakamoto's views, who created BTC in 2009
On May 13, Elon Musk informed that Tesla canceled allowing BTC as a payment method as its mining causes damage to the surroundings. Later, in June, he said the company would allow Bitcoin activities again when around 50% of mining will be based on green energy.
Musk's tweets have met criticism. The CEO of Binance exchange, Changpeng Zhao said in a recent interview Musk is free to say all he wants, a bit of foresight would help as his tweets influence market movements.