- Elon Musk is forcing tokens again
- This time he “warmed up” the CULT course
- In a few hours, the price of the token soared by 84%
- At the same time, there are no visible links between Musk and Cult DAO.
This morning, May 2, the head of Twitter, Elon Musk, published a new message on his page. The single phrase of the billionaire led to a jump in the rate of the native Cult DAO token, which grew by 84% in a few hours.
“Cult/Culture” says Musk’s tweet.
It is noteworthy that the billionaire himself did not explain what exactly he was talking about. Several people unsubscribed under his message, including the user “RichQuack”, the founder of the DAO of the same name with the QUACK token.
Apparently, Musk deliberately “warmed up” the asset price. For what purpose is unknown. After his tweet, the price of CULT jumped from $0.00000418 to $0.00000973. At the same time, the capitalization of the asset increased 10 times, from $1136.9 to $10957.6.
At the time of this writing, the course has “rolled back” a little. The asset is currently trading at $0.00000809. But even so, the daily price jump is + 60%.
This is just one of the cases within a more global fever in the meme-coin market. As an example, let’s take PEPE, on the jump in the rate of which one of the traders earned more than a million by investing a couple of hundred dollars. And this is far from the first time that Elon Musk has “rocked the market”. Recall that his lawyers demand to cancel the lawsuit for an absurd amount of $ 258 billion. Such “tweets” by Musk just became the reason for it. Only at that time he forced DOGE.