TLDR
- FLOKI token jumped over 20% to $0.00008043 after Elon Musk posted a picture of his dog Floki dressed as X CEO on October 20, 2025
- Trading volume exploded 802% to $540 million while derivatives volume increased 663% to $283 million in 24 hours
- The meme coin topped CoinGecko’s trending list immediately after Musk’s viral post reached millions of followers
- Open interest in FLOKI derivatives climbed 165% to $37 million as traders rushed to capitalize on the price movement
- The entire meme coin sector gained 5.8% reaching $64.4 billion in total market capitalization following the social media activity
Elon Musk triggered a sharp price increase for FLOKI token on October 20, 2025. The billionaire posted an image on X showing his Shiba Inu dog Floki wearing CEO attire.
The token price rose from $0.00006689 to $0.00008043 within hours. This represented a gain of more than 20% in a brief time window.
Musk wrote “Flóki is back on the job as X CEO” with the image. The post quickly spread across social media platforms and crypto communities.
FLOKI claimed the top spot on CoinGecko’s trending cryptocurrency list. The token outperformed all other digital assets in search activity.
Trading Metrics Spike Across Markets
Data from Coinglass revealed derivatives volume surged 663% to $283 million. Open interest jumped 165% to reach $37 million during the same timeframe.
CoinMarketCap reported total FLOKI trading volume hit $540 million. This marked an 802% increase compared to the previous 24-hour period.
The token’s market capitalization crossed $830 million. This level represented the highest valuation since October 10, 2025.
The FLOKI team posted on their official X account celebrating the trending status. They referred to the token as “the people’s crypto” and “Elon’s dog.”
The meme coin sector as a whole benefited from the attention. Total meme coin market cap increased 5.8% to approximately $64.4 billion.
Other tokens like Ergo and Bio Protocol posted smaller gains. However, FLOKI dominated the meme coin performance charts for the day.
Historical Pattern of Musk Influence
Musk has referenced Floki before with similar market effects. In 2023, he jokingly named Floki as his Twitter CEO replacement after stepping down.
That previous mention caused a 140% single-day price rally. The pattern demonstrates Musk’s ability to influence meme coin valuations through social media.
The entrepreneur is primarily associated with Dogecoin support. Yet he has engaged with the Floki community on multiple occasions.
Musk purchased Twitter for $44 billion in 2022 before rebranding it to X. His posts regularly generate market reactions in cryptocurrency markets.
Current Price Action and Technical Outlook
FLOKI price settled around $0.00007985 at press time. The token retained double-digit percentage gains from pre-tweet levels.
Technical charts show a falling wedge pattern on the 3-day timeframe. Some analysts interpret this formation as a bullish signal for future price movement.
The MACD indicator sits just below zero with a tightening histogram. This suggests potential for buyers to take control of momentum.
Trading volume remains well above typical daily averages. Derivatives open interest also stays elevated compared to recent weeks.
FLOKI launched its first European exchange-traded product earlier in October. The token has gained listings on mainstream platforms including Robinhood.
The token’s all-time performance shows gains of 148% despite falling more than 50% over the past year. Current price action sits at $0.0000829 with traders watching for further developments.
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