Although history does not always repeat itself, in some cases, like when it comes to Elon Musk's tweets and the rising prices of certain memecoins, the same thing that happened with Dogecoin and Shiba Inu happened, again! For those that haven't seen the tweet, basically, the Tesla CEO mentioned something, and the corresponding cryptocurrency with that name rose in price again.
Elon Musk Tweeted 'Floki Santa' and 'Santa Floki' Shot Up in Price
When Elon Musk initially tweeted about Doge, owners saw massive increases with the meme coin originally created as a literal meme shoot up in price. With that, Elon Musk tweeted out a picture of his dog, a Shiba Inu named Floki, with the caption "Floki Santa," and with this, a cryptocurrency that had the same name rose in profits!
The cryptocurrency Santa Floki, as seen on CoinMarketCap, rose extremely high after the tweet shooting the price up from $0.0000000129 to new heights of $0.0000005218. The coin, quite surprisingly, was also just created but its website notes an actual roadmap with AMA and everything found in a standard crypto project.
Santa Floki Website Details Project Roadmap
As per the roadmap seen on the Santa Floki website, there was a presale back on Nov. 16 with marketing across Poocoin and BSCScan, an official audit, and an AMA complete with an NFT launch.
This means that despite the coin only recently rising to new heights, it was already in existence for quite a while now. The coin's market cap is up over $5 million as per CoinMarketCap and is currently trading at $0.0000004295 as per the time of writing this article.
Previous Tweets by Elon Musk
Previous tweets by Elon Musk have caused certain meme coins to shoot up in price, including Dogecoin, Shiba Inu, Floki Inu, and even some other spin-offs of these coins. To add to this collection, Santa Floki has seen a massive price spike.
As per the description, the coin pays hodlers BUSD and is a charity initiative that plans to donate to organizations like Save The Children. As per its description, hodlers will be getting 4% of every buy and sell transaction through BUSD.
As per the roadmap on the website, the Santa Floki project plans to develop its own personal wallet, have an online store, and have major partnerships. As of the moment, it is still in the early stages of the project.
Is Santa Floki a Scam?
As per the legitimacy of the cryptocurrency, the isthiscoinascam website Santa Floki, known for its cryptocurrency ticker HOHOHO, has a score of just 1.56, which was regarded as "weak." This update was provided on Dec. 25.
A red flag noted by the website is that the Santaflokibsc Github account linked to the project has been removed. Although the coin has multiplied in value, it is important to DYOR before investing heavily into this project.
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Written by Urian B.
