TL;DR
Musk’s Recent Tweet Impact: After Elon Musk posted a birthday picture of his dog, Marvin, the price of the memecoin Marvin Inu soared by over 400%, though it later settled at roughly 100% higher than its yesterday’s value.
Historical Influence on Cryptos: This isn’t the first time Musk’s tweets have impacted cryptocurrencies. Earlier mentions, such as dressing his pet Floki as CEO of X, led to a 40% surge in Floki Inu, and a “Baby Doge” tweet caused the coin’s price to jump nearly 90%.
Risks with Memecoins: While memecoins can offer rapid price surges, they also come with significant investment risks.
The Elon Musk Effect
The world’s wealthiest man and owner of X (Twitter) has a serious influence in the cryptocurrency space. The latest example is his most recent post and the subsequent reaction coming from a less-known memecoin.
Specifically, Musk uploaded a picture of his dog posing in front of a cake with candles. “Today is also Marvin’s birthday,” the po
We współpracy z: https://cryptopotato.com/this-meme-coin-explodes-400-following-elon-musk-x-post/
