Elon Musk Pumps CumRocket Price by 400% After Tweet on Kekius Maximus
Elon Musk’s tweets can cause price surges in many cryptocurrencies.
He’s shown love to meme coins before, especially Dogecoin, but his reach goes beyond one token. Recently his tweet with an IRS meme featuring a Pepe variation sent CumRocket (CUMMIES) adult themed cryptocurrency up 400% to a 6 month high.
The tweet was a lighthearted jab at IRS tax reporting and featured the popular Pepe meme which is tied to many meme coins in the crypto world. CumRocket went from $0.005 to $0.0225. Although the surge was short lived the token ended up 136% in 24 hours. Musk’s online presence is powerful.
Even after the price drop CumRocket’s market cap is $15.3m with a 24 hour volume of $10m. This shows how Musk can create quick price spikes and investors can gain or lose big depending on their timing.
Musk’s Influence on Meme Coins
This isn’t the first time Musk’s actions have affected meme coin markets. In June 2021 Musk’s tweet about CumRocket sent the price up 400% in minutes. Since then he’s been using his X platform to influence the crypto space especially meme coins like Kekius Maximus.
On December 31, 2023 Musk added Kekius Maximus to his X profile and the price went up 1200%. Many traders made big profits. One lucky guy even made 17,000% in an hour. But as usual with Musk’s spikes the price dropped once the hype died down and many investors were left in the red.
Key Takeaways for Crypto Investors
Musk’s endorsement of cryptocurrencies whether through tweets or profile updates shows his power in the market. His influence has caused big price movements with CumRocket and Kekius Maximus. For crypto investors this means opportunities to profit from the spikes but also the risks of following the hype.
- Short-term Profits: Traders who react quickly to Musk’s posts often see short-term gains.
- Volatility: The hype is usually short-lived, and prices can crash just as quickly as they rise.
- Strategic Timing: Investors must time their entries and exits carefully to capitalize on the surge without being caught in the subsequent downturn.
Following big names like Musk can be profitable but requires fast decision making and market awareness to avoid losses.
