Musk’s sharing once again ignited the market, and the price of the meme coin $NPC skyrocketed
Elon Musk, the world-famous billionaire, has once again become the focus of the cryptocurrency market. On Saturday, Musk shared a video about "non-player characters" (NPC) memes from American podcast host Joe Rogan's show "The Joe Rogan Experience."
Source: X Musk shares a video about discussing NPCs
The video discusses how "most people are like real-life non-player characters, simply repeating programmed actions." The sharing of this video triggered widespread discussion about NPC memes on the Internet. Musk's move unexpectedly triggered a surge in the price of the meme currency Non-Playable Coin ($NPC) related to NPC memes, which rose that day. 42%.
Non-Playable Coin is a meme coin based on Ethereum and Base. It is worth noting that the coin was created last year after Musk first praised an article about NPCs, and this is the second time that the price has surged due to Musk's unintentional sharing.
According to DEXScreener data, the price of $NPC quickly rose after Musk shared the video, soaring from $0.0194 to as high as $0.0269, an increase of 38.6%, and is currently trading at about $0.02482. The coin’s trading volume has increased by 70% in the past 24 hours, showing a significant increase in trader interest.
Source: DEXScreener Meme Coin $NPC Price Chart
Volatility in the Meme Coin Market
The cryptocurrency market is very sensitive to any relevant sharing by Musk on social media X. This is not the first time that his posts have caused violent fluctuations in currency prices. In the past, there have been many meme currency prices that have skyrocketed due to Musk sharing related pictures or videos, such as Dogecoin ($DOGE), Pepe's Frog Coin ($PEPE), and Shiba Inu Coin ($SHIB).
This phenomenon demonstrates the highly volatile and speculative nature of the memecoin market. Although Musk's sharing can trigger a surge in prices in the short term, investors need to proceed with caution and conduct adequate research and risk assessment to avoid falling into the trap of "pump and dump".
Investors should pay attention to risks
As with any cryptocurrency investment, especially memecoins, investors should remain wary. These coins tend to move quickly due to their high volatility and social media influence. Experts suggest that before making any investment decisions, investors should carefully investigate related projects, understand the technology and market demand behind them, and avoid blindly following trends.
In summary, although Musk's sharing can trigger a violent reaction in the market, long-term investment value and risk control are still the focus that investors need to pay attention to. The surge in the $NPC meme currency this time once again proves the unpredictability and risk of the cryptocurrency market, and also reminds investors to remain calm and rational.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
