Overview
- Elon Musk’s Oct. 20 X post featuring an AI video of his Shiba Inu “Floki” as X’s CEO propelled FLOKI up roughly 20%–30% intraday to near $0.00009.
- At the peak, FLOKI’s market value approached $780–$830 million as 24-hour trading volume swelled to about $540–$660 million across market trackers.
- Derivatives activity jumped sharply, with reported futures volume up about 663% to $283 million and open interest rising roughly 165% to around $37 million.
- The meme-coin basket also caught a bid, with sector capitalization reported up about 5.8% to roughly $64.4 billion during the surge.
- Gains faded within a day as FLOKI fell roughly 12%–17% to the $0.000073–$0.000074 area, prompting reminders that recent moves are sentiment-led despite cited fundamentals such as a European ETP, a Robinhood listing, product launches, and more than 1.5 billion tokens burned since September.