Elon Musk has a new dog. It is a Shiba Inu, the same breed as the mascot for Dogecoin.

My Shiba Inu will be named Floki

— Elon Musk (@elonmusk) June 25, 2021

Musk is very rich and famous because he makes cars and space rockets and tells funny jokes on Twitter, often about dog-themed cryptocurrencies.

Musk is now so rich and famous that if he so much as exhales in the direction of a cryptocurrency about dogs, the market for dog coins will wrap around his very breath.

His tweet about his new dog is the latest thing to move decentralized dog markets. The price of Shiba Inu coin rose 17%, from $0.000006771 to $0.000007935, after Musk tweeted about his new dog Friday. The price of Dogecoin didn’t budge much.

Musk has named his new dog Floki. Floki is also the character from the TV show Vikings whom a fan-based wiki describes as an “incorrigible trickster.”

People created lots of Floki cryptocurrencies after Musk shared the name of his new dog. There are literally dozens of them on Poocoin, a website that tracks the prices of different shitcoins.

Crypto publication Benzinga picked up the story. It reported that one Floki cryptocurrency increased by 3,500%. We venture that all of these coins have increased infinitely since they are backed by nothing but a man and his dog.