Dogecoin And Shiba Inu Soar As Elon Musk Announces New Twitter CEO

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Elon Musk, who is still searching for a new Twitter CEO, jokingly introduced a dog as Twitter’s new CEO, sending the prices of Dogecoin, Shiba Inu and Floki soaring. At press time, all three meme coins saw significant price appreciation, with DOGE up 6.1%, Shiba Inu up 4.3%, and FLOKI up 39%.

“The new CEO of Twitter is amazing,” Musk wrote, sharing a picture of a Shiba Inu dog sitting behind a desk wearing a black sweater with the word CEO on it. On the desk is a contract from Twitter, where the position “Chief Executive Officer,” the name “Floki” and a signature in the form of a paw print can be seen.

The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH

— Elon Musk (@elonmusk) February 15, 2023

In a follow-up tweet, Musk also wrote, “So much better than that other guy,” to which Dogecoin creator Billy Markus replied, “I guess he was the only one crazy enough to take the job.” Musk replied to Shibetoshi Nakamoto’s comment, writing with a wink, “He is perfect for the job.”

Elon Musk followed up these tweets with two more others. The first shows the Shiba Inu dog with apparent balance sheets. Musk commented: “He’s great with numbers!” The second shows the Twitter CEO in a Steve Jobs-like outfit, with Musk adding that he has style.

He’s great with numbers! pic.twitter.com/auv5M1stUS

— Elon Musk (@elonmusk) February 15, 2023

Will Twitter’s New CEO Be Dogecoin And Shiba Inu Friendly?

The tweets come at a time when Elon Musk is increasingly facing pressure from the mainstream media for his actions and outspoken stance on free speech. In December of last year, Musk said he would step down as Twitter CEO once he finds someone who can keep the platform “alive.”

At the time, Musk claimed that Twitter was headed toward bankruptcy and that the new CEO would face a daunting task. However, despite falling advertising revenue, Musk recently claimed that the company is no longer in danger as it is “on track to break-even.”

His recent tweets could possibly indicate that Musk may have found a successor, although this is pure speculation at this point. The billionaire could be using the Shiba Inu images as a fun way to wrap up the news before an official announcement is made.

Whether a bias towards Dogecoin, Shiba Inu or Floki was a prerequisite for the job can also only be speculated.

But it is worth noting that Musk is not only pumping the price of Dogecoin with his tweets this time, but also Shiba Inu and FLOKI.

The price increase of SHIB might come from the fact that lead developer Shytoshi Kusama also responded to Musk’s tweet with a smiley face. Meanwhile, the name of the new CEO “Floki” is a welcome cause for a rally for the meme coin community.

At press time, the Dogecoin price stood at $0.0859. A daily close above the 200-day EMA (blue line) could be a bullish signal.

Dogecoin DOGE price
DOGE price fighting the 200-day EMA | Source: DOGEUSD on TradingView.com

Featured image from NPR and Jaycee / Unsplash, Chart from TradingView.com

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