Elon Musk Brings Home The Ultimate Doge Symbol: Meet ‘Floki’

Elon Musk has shown that his support of Dogecoin runs deep as he has given the ultimate confirmation of his backing of the coin by getting a Shiba Inu dog.

The Shiba Inu is the mascot of the Dogecoin cryptocurrency, which Musk has adamantly posted about on Twitter. On Sunday evening, he also posted a picture on Twitter announcing the new arrival of his pet named Floki.

Musk said back in June that he would be getting a Shiba Inu, and he would be naming it Floki, which caused a number of Floki-based cryptocurrencies to emerge in anticipation.

Since the announcement of Floki’s arrival by Musk, the Floki currency surged over 1,200%, and the Floki Inu currency was up over 104%, Benzinga reported. The Shiba Floki token was up over 1,400%, the news outlet said.

Even Dogecoin saw a spike from trading down over 20% over the last seven days. It was up 2.82% as of Sunday evening, Benzinga said. As of Monday early morning, the coin was down 4.40% to $0.23, according to CoinMarketCap.

Musk fans on Twitter approved of the new addition to his family, with many asking the Tesla (TSLA) CEO to post a photo reenacting a “The Lion King” meme featuring himself and the Shiba Inu.

Other fans suggested that there was a new Doge King in town -- a name that they had affectionately given to Musk.

Some made reference to a previous post of Musk where had said Doge to the Moon.

Musk also has another dog named Marvin. But Floki and Marvin weren’t getting along just yet.

As of Monday premarket hours, shares of Tesla were trading at $740.80, up $4.53 or 0.62%.