TLDR
- Elon Musk posted an image on X showing his Shiba Inu dog Floki wearing CEO clothing, which caused FLOKI token to surge over 20% within hours
- FLOKI price climbed from $0.00006689 to a peak of $0.00008043, with derivatives volume jumping 663% to $283 million and open interest rising 165% to $37 million
- The meme coin became the top trending cryptocurrency on CoinGecko immediately after Musk’s tweet on October 20, 2025
- The broader meme coin market gained 5.8% reaching $64.4 billion in market cap following the social media post
- FLOKI trading volume reached $540 million, an increase of 802% in 24 hours, though the price later retreated slightly to around $0.00007985
Elon Musk posted an image on X showing his Shiba Inu dog Floki wearing CEO clothing on October 20, 2025. The post caused the FLOKI token price to increase quickly.
Flōki is back on the job as 𝕏 CEO! pic.twitter.com/Zu29Dos24r
— Elon Musk (@elonmusk) October 20, 2025
The token climbed from $0.00006689 to a peak of $0.00008043 within hours. This represents a gain of over 20% in a short time period.
Musk captioned the image “Flóki is back on the job as X CEO.” The post went viral on social media platforms.
FLOKI became the top trending cryptocurrency on CoinGecko shortly after the tweet. The token ranked first among all cryptocurrencies for trending searches.
Trading data from Coinglass showed derivatives volume increased by 663% to reach $283 million. Open interest rose by 165% to $37 million during the same period.
Total trading volume for FLOKI reached $540 million according to CoinMarketCap. This marked an increase of 802% in the 24 hours following the post.
Market Response and Trading Activity
The FLOKI team responded to the tweet on their official X account. They called the token “the people’s crypto” and referenced Musk’s pet dog.
The post included a link to a newly launched app. The app allows users to create similar AI-generated videos.
Market cap for FLOKI crossed $830 million. This was the highest level since October 10, 2025.
The broader meme coin market gained 5.8% in value. Total market cap for meme coins reached approximately $64.4 billion.
Other meme coins also saw gains but FLOKI led the category. Smaller gainers included Ergo and Bio Protocol.
Previous Musk Interactions
This is not the first time Musk has mentioned Floki. In 2023, when he stepped down as Twitter CEO, he jokingly referenced Floki as his replacement.
That earlier mention caused a 140% price rally on the same day. The pattern shows Musk’s social media posts can move meme coin prices.
Musk is better known for his support of Dogecoin. However, he has interacted with the Floki community multiple times.
The billionaire acquired Twitter for $44 billion in 2022. He later renamed the platform to X.
At press time, FLOKI price had retreated to approximately $0.00007985. The token still maintained double-digit gains from before the tweet.
Technical analysis shows FLOKI trading near $0.0000829 on the 3-day chart. The price action reveals a falling wedge pattern that some traders view as bullish.
The MACD indicator sits slightly below zero but the histogram has tightened. This suggests buyers may be regaining control of the market.
Trading volume remains elevated compared to typical daily levels. Open interest in derivatives markets also stays above recent averages.
FLOKI debuted its first European ETP earlier in October. The token has also been listed on Robinhood and other mainstream exchanges.
