Tesla founder Elon Musk on Friday again began trolling the cryptocurrency market.

“My Shiba Inu puppy will be named Floki,” Musk posted an innocuous post on Twitter (NYSE:TWTR), after which the price of the Shiba Inu token (SHIB) soared.

According to Coinecko, the SHIB/USD rate has increased by 15% in the last 24 hours. As of 16:55 Moscow time, the coin is adding about 7% against the backdrop of Bitcoin falling by 3% and Ethereum by 5.5%.

The cryptocurrency previously suffered heavy losses after China took a series of measures to restrict mining and trading of cryptocurrencies: the price of the Shiba Inu fell by about 50% from its peak to its trough from June 15 to June 22, writes Newsroom Post.

According to InvestorPlace.com, the Shiba Inu coin is likely to rebound in the near future. In fact, the growth could be enough to surpass Dogecoin, the publication believes.

Meanwhile, as the resource thecoin.news writes, 9 minutes after Musk’s publication on the social network, the Floki token was created on the decentralized crypto exchange Uniswap. In an hour, its price increased by 795%, to $0.000000001100.

At the beginning of May, Elon Musk first wrote that he was looking for a Shiba Inu puppy. Then the cost of a token with the same name increased by 68% in an hour. Later, Shiba Inu was listed by two crypto exchanges Coinbase Pro and Binance.