FLOKI saw a sharp increase in price on Monday, following a social media post from Elon Musk that featured an AI-generated video portraying FLOKI as the CEO of X. The coin surged over 30% shortly after the video was published, moving from around $0.000070 to a peak of $0.000088.
The price movement was immediate and driven by social momentum. However, the gains began to fade within hours. As of Tuesday afternoon, FLOKI was trading near $0.000073 – roughly 5% higher than pre-spike levels, but well below the earlier peak.
The pullback in FLOKI’s price occurred alongside a broader downturn across crypto markets. Bitcoin dropped approximately 3% over the same period, and Ethereum lost more than 4%. The shift in overall sentiment may have contributed to the fading momentum in FLOKI’s rally.
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Long-Term Trend Still Negative
Despite the brief rally, FLOKI remains down 24.5% over the past month. The token has not recovered from the October 10 flash crash and, even at its recent high, did not return to early October price levels.
Earlier this month, FLOKI had gained attention after the launch of a FLOKI-based ETP in Sweden. That event also led to a short-lived price increase but failed to produce sustained upside. At current levels, the token remains significantly below its December 2024 high of $0.00025.
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Ongoing Development Efforts
The FLOKI team continues to promote its ecosystem regardless of price action. Current initiatives include an NFT-based gaming metaverse, the “University of Floki” education platform, and trading tournaments aimed at increasing user engagement. These efforts are part of an ongoing strategy to position FLOKI as more than just a memecoin.
