LIVE3 Elon Musk Tweets About Meme coins Pump 5000x
Elon Musk has tweeted about various meme coins, which often leads to significant price movements for those coins. Here are some instances:
1. Grok: Elon Musk tweeted about an AI chatbot named Grok, and although the meme coin Grok is not affiliated with the chatbot, the coin saw a 69% rally in a week and 165% in a month following his tweets¹. The tweet about open-sourcing Grok was posted in March 2024¹.
2. Milady (LADYS): After Elon Musk tweeted using the imagery of a Milady NFT, the associated meme coin surged by 5,250% within 24 hours on May 11, 2023².
3. Dogecoin: On January 14, 2022, Musk mentioned that Dogecoin could be used to buy Tesla merchandise, which resulted in a 55% increase in Dogecoin's value⁴.
The impact of Elon Musk's tweets on meme coins can be substantial, leading to rapid price increases. However, these pumps are often short-lived and can be followed by equally swift declines. It's important to be cautious when investing in assets influenced by social media and celebrity endorsements.
Always do your own research and consider the risks involved in trading such volatile assets.
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