Traders are selling the Akita dog Inu after Twitter CEO Elon Musk posted an meme about his dog Froki disguised as Twitter's new boss.

According to WJB, the price of Doge has risen 5.4% in the past 24 hours.

On October 27th, Musk succeeded Rosalesque Agrawal as chief executive of Twitter, whose recycling deal for the social platform was successful. Although the two reportedly cooperated with each other when they first met, Musk's relationship was reportedly strained after he became Twitter's largest shareholder, with a delay in 2022. Musk doesn't care about Agravar on Twitter, while the former CEO still cares about Musk.

Last December, it was reported that Musk had already started looking for Twitter's CEO after the failure of an online social opinion poll on the topic.

"as soon as I find someone stupid enough to accept the job, I will resign as CEO! After that, we will only care about the mobile software and server elite team.

Floki rose by nearly 50%

In addition, according to CoinGecko, Floki has risen 41 per cent in the past 24 hours. The name Floki comes from Musk's Akita.

In January this year, Floki Inu Dao, the institution behind the coin, passed a crackdown decision, symbolically damaging $100m, and the price of Floki has since risen by nearly 100 per cent.

The logic behind burning tokens is that he will reduce supply and increase the value of each token while maintaining the same level of demand. It's a bit like a share buyback in the password world.

Will dogs give the market dog dog days?

This is not the first time Doge has posted on a Twitter related to Musk. At the end of January this year, a news article in the Financial Times of the United States said that Twitter had designed a system software that allowed encrypted data collection. This report contributed to the soaring of Mim coins.

In a statement released in December 2022, blockchain technology analyst Santiment warned that historically, the very large rise in Doge and other Mim coins, such as Shiba Inu (Shib), had been the first sign of industry-wide sales.

In the past three months, the sales market has now begun to recover from the severe winter of login passwords triggered by FTX. By mid-to-late January, WJB reported that BTC had erased all the declines associated with FTX. The market recovery is also a prelude to the alternative currency season, many of which are rising by double or triple digits.

BTC is up 34% in the past three months, while Shib is up 40%, an astonishing 533%.

Although other dog coins roared at the moon, Doge actually fell by 2% during that period-including today's soaring rise-suggesting that if Sandy Monti's argument were created, we would not have reached the level of market-wide sales.

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