Elon Musk's name is synonymous with massive gains for memecoins in the Crypto space. The world's richest man posted a photo on Twitter about his dog wearing a Santa Claus outfit with a message "Santa Floki." Following this, a Cryptocurrency token with the same name skyrocketed from $0.000000012935 to a new all-time high of $0.00000245, representing a mind-blowing 18,840% surge in roughly 48 hours.