Tesla and SpaceX CEO Elon Musk tweeted about his Shiba Inu dog. With Musk’s tweet, the SHIB token also increased.

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Elon Musk, one of the controversial names in the cryptocurrency community, published a post on Twitter saying that his Shiba Inu dog will be named Floki. After Musk’s tweet, SHIB gained 13% in the last 1 hour.

With Musk’s message, a serious rise was seen in the meme token. Many people who accused Musk of manipulating the market expressed their reactions under the message.

Meanwhile, SHIB is up 15% in the last 24 hours, according to Coinecko data. The cryptocurrency was trading at $0.00000773 at the time of writing.