- Ilon Musk is forcing tokens again
- This time he “heated up” the CULT rate
- The token price soared 84% in a few hours
- There is no visible connection between Musk and the Cult DAO
Twitter CEO Ilon Musk published a new message on his page this morning, May 2. The billionaire’s single phrase caused the Cult DAO native token to jump by 84% in just a few hours.
notably, the billionaire himself did not explain what exactly he was talking about. Several people signed off on his message, including the user “RichQuack,” the founder of the DAO with the QUACK token of the same name.
It appears that Musk deliberately “heated up” the asset’s rate.. 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 tenfold, from $1136.9 to $10957.6. At the time of writing, the rate has “rolled back” a bit..
The asset is now trading at $0.00000809. But even so, the daily price jump is +60%.
This is just one case within a more global fever in the meme-coin market. As an example of PEPE, on the jump in the rate of which one of the traders earned over a million by investing a couple of hundred dollars..
Recall that his lawyers are demanding that the absurd sum of $258 billion be cancelled.. Similar “tweets” by Musk are exactly what caused it. Only that time he was pushing DOGE.