Except that Floki is not just the name of a pet dog. It has become the name of a cryptocurrency that ranks alongside “meme coins” with dog faces, such as Elon Musk’s favorite cryptocurrency dogecoin, shiba and more recently the bonk cryptocurrency.

Following Elon Musk's three tweets featuring his dog, the price of the Floki cryptocurrency jumped 40% in the space of 24 hours, according to data from Coinmarketcap. In January, the price of this token even soared almost 100% after the Floki Inu Decentralized Autonomous Community (DAO), the group behind the token, passed a governance resolution to burn $100 million worth of tokens.