Shiba Floki cryptocurrency increases its value thanks to Elon Musk.
Greetings to all my dear and valued readers of this valuable community, continuing with the cycle of publications today I will share with you a news that surely will bring you some memory either positive or negative and is that Elon Musk gender that the crypto Shiba Floki increased its value in the market.
It is well known by many that Elon Musk has always intervened in one way or another in the cryptocurrency market, making comments on some of them, such as Bitcoin, Dogecoin and now Shiba Floki, these comments that this character makes can be negative or positive and as the case may be the value of the cryptocurrency to which it refers moves in the market, but in the same way there are those who think that this is not so.
Recently Elon Musk showed his new mascot which is a dog named FLOKI, the same name of the cryptocurrency, immediately the value of the same soared more than 1000% in less than 24 hours according to data provided by the CoinMarketCap platform. FLOKI has arrived tuiteo the multi-billionaire Elon Musk by posting a picture of his pet, the value of the cryptocurrency before this comment made by Elon was $ 0.000000000570 and rose its value in the market to $ 0.000000008001.
Source
This cryptocurrency FLOKI is classified as a descendant cryptocurrency of the father of memes DOGECOIN, cryptocurrency that is currently very well positioned in the market, the truth is that Shiba Floki gave an important jump product of a comment that Elon published with a picture of his pet, then from there is where we can deduce if Elon have enough power to make a cryptocurrency rise or fall its value in the market.
In conclusion, this is not the first time this has happened and I personally believe that it will not be the last either, since the economic interests at stake with these strategies are quite high. That is why we must be very attentive to the comments that this character Elon Musk makes about cryptocurrencies because his great economic power allows him to play with the price of cryptocurrencies in his favor, i.e. he takes advantage of it to make profits.
The value of platform and influence is what Elon musk use to loft the coin up. Now imagining Elon musk promote steem as a coin on its tweet. I believe steem will hit $10 within few weeks of that
But does it means Elon musk has given up on Doge coin
Greetings @mandate, certainly the economic power of Elon Musk makes such a moving and decentralized market to be affected, but everything is made by money, if he were to make any positive comments about Steem he would surely break all records
That shows how undamaged the crypto asset market is, unfortunately, I understand that giving an opinion, presenting a certain opinion or perspective and even making heavy investments (or heavy withdrawals), by a person like Elon Musk is obviously going to generate a positive or negative impact. in any blockchain project, but from there a photo of your dog increases the value of a coin "meme" with the face of your dog .... frankly, there is still a lot to grow and mature.
Very good article @carlir
Hello dear @karupanocitizen, I share your opinion we still have to mature a lot in this market, because these announcements should not impact the market because it would favor some and harm others unjustifiably, it is preferable that the market continues to be maintained with the law of supply and demand.
Thank you for commenting.
hello @carlir,
I really do not understand how it is possible that people fall into these traps which seek to demonstrate power by Mr. elon musk, the actions of the people give to understand that a person can not centralize the currencies but if you can play with the desire to enrich millions of people who follow the trends instead of studying the projects and their usefulness in real life, it is very possible a market crash that leaves bankrupt millions of people while these gentlemen become richer and richer.
Many times I have felt a lot of anger towards Elon, especially the times he starts sabotaging my BTC, in fact when he announced that they would accept BTC to pay for cars, I felt very good then later when he came out talking straw about btc, I started to disregard his opinions. He is just a market manipulator but to his own advantage.
Hello @lanzjoseg, your comment is correct, he only manipulates the market for his own benefit, that is why we should not fall into his game but unfortunately we do it and damage the market.
As you say, that brings back good and bad memories, and shows Musk's ability to influence this space, I think when he is able to influence by investing in this world is a good thing, but able to influence the price of a coin just by naming his dog that name, I don't know, I think it's more getting carried away by a meaningless circumstance.
Greetings @crarlir
We must be already used to Elon Musk , he will try to make many moves with news that favor him personally as a businessman and investor that he is, giving publications to favor himself is a new way to make money in the crypto world, since the universe of investors moves a lot by market speculation. I hope this strategy does not last long, because it is a damage that does to the Blockchain and where only he wins.
Thank you very much for sharing
Greetings friend @dgalan, very accurate your comment hopefully and this strategies used by large investors such as Elon Musk do not last long in time because the most harmed would be the users with limited resources. These people only see their own benefit and do not care about harming the rest.
Yes, I got this news from the Twitter account of Elon Musk. He is the most influential on Crypto Market, isn't he? https://twitter.com/elonmusk/status/1437179881260032016
Greetings @printskill, if he is not the most influential is one of them, the important thing is not to get carried away by these people, because the market would be affected and would lose its essence which is decentralization.
Sometimes I wonder if we remove the elon musk from the DOGE and it's clone coins promotion, I am pretty sure there would be none of these coins ever hitting 1 cent. :)
#affable #india