Elon musk coin com
As Elon Musk tweets go, so goes the crypto market. The billionaire and Tesla CEO has been tweeting about crypto a lot, too, sending the price of bitcoin — as well as dogecoin — up and down with fewer than characters. They also raise questions about the solidity of a market that can be so easily swayed, especially as retail investors increasingly flock to cryptocurrencies. In April, the cryptocurrency exchange platform Coinbase became the first major cryptocurrency company to go public in the US, signifying the mainstreaming of blockchain-based currencies like bitcoin, ethereum, and dogecoin. Musk is not the only one potentially making money off his crypto tweets. Bitcoins are lot more than what we could see read more to get acquainted with all trading techniques of bitcoins.
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Content:
- Dogecoin jumps 9% after Elon Musk says it can be used to buy Tesla merchandise
- screenrant.com
- Lorde Edge coin is new crypto currency rising in value because Elon Musk changed his Twitter name
- Why have Elon Musk and Tesla suddenly turned against bitcoin?
- Elon Musk pumps Dogecoin with yet another tweet, token surges 25%
- What is Dogecoin and what does it have to do with Elon Musk and Saturday Night Live?
- How Elon Musk’s Tweets Are Impacting the Cryptocurrency Industry
- Commentary: Elon Musk gambles big on bitcoin to keep Tesla going strong
- Elon Musk-McDonald’s Joke Creates ‘Fake’ Cryptocurrency Seeing A Jump Of 285,000%
- Doge-Funded Elon Musk Moon Mission Creates Buzz, But Meme Coin Falls
Dogecoin jumps 9% after Elon Musk says it can be used to buy Tesla merchandise
Twitter exchange between Musk and McDonald's helped accelerate fake Grimacecoin crypto. While McDonald's response was an obvious joke, opportunists quickly created a cryptocurrency based on a McDonald's Grimace, the purple blob character used by McDonald's for marketing and advertising with a flurry of fake Grimace-named coins too. Shortly after the tweet, tens of cryptocurrencies trading under the name Grimacecoin began appearing and surging in value rapidly on various blockchains.
Dex Screener , a tool that monitors token activity on different decentralised exchanges, revealed that some variety of this token was trading. The biggest gainer of this batch was the Grimacecoin on BSC's PancakeSwap, which jumped by a whopping , percent over its first 24 hours of existence, before somewhat slowing down.
Hours later, people from all across the globe flocked to create fake Grimace tokens on the cryptocurrency marketplace. It's worth noting that there was no Grimace Coin in the crypto world at the time of the tweet. McDonald's tried to promote the idea as a joke, but some saw an opportunity and started making fake coins with that name. While many in the meme coin community are having a blast at the new turn of events, others are advising caution because of previous meme coin-related scams.
The coin was inspired by the hit Netflix show Squid Game and had skyrocketed over , percent following its launch. However, its entire market cap was wiped out in just 15 minutes, leading to the current Grimace coin warnings from many within the cryptocurrency community. Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV.
NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. For the latest videos on gadgets and tech, subscribe to our YouTube channel. Dogecoin jumped 7 percent in value following Musk's initial tweet Grimace is a character part of McDonald's marketing campaign Several fake Grimacecoins quickly flooded several DEX's.
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Charlie Lee, the creator of Litecoin , one of the largest crypto assets by market cap, has hailed the popular meme coin, Dogecoin , for its role in driving mainstream adoption of the crypto industry. His praise of Elon Musk and Dogecoin is unsurprising considering the role both have played in bridging the gap between the crypto industry and the mainstream public. Apart from that, his electric car maker company, Tesla , currently accepts Dogecoin as a payment option for its products. This is coming after the same company invested heavily in Bitcoin last year and also briefly accepted the coin as a means of payment for its vehicles.
Lorde Edge coin is new crypto currency rising in value because Elon Musk changed his Twitter name
Tesla, the electric carmaker headed by billionaire Elon Musk, has started to allow people to buy brand merchandise using Dogecoin, a cryptocurrency initially started as a joke. Mr Musk announced the development on Twitter on Friday, a month after hinting of the plans. The news sent the value of Dogecoin soaring, though it fell back later. Comments by Mr Musk have frequently moved the prices of digital currencies, including Dogecoin and Bitcoin. Dogecoin, which was started in as a parody of the cryptocurrency craze, was once obscure. An investor in the token, he has dubbed it the "people's crypto" and said his space company SpaceX would accept it as payment. During an appearance on the humour show Saturday Night Live, after getting pressed to define it, he called it "a hustle". It's not the only digital coin to receive attention from the billionaire, who has a passionate online following.
Why have Elon Musk and Tesla suddenly turned against bitcoin?
Billionaire Elon Musk is a huge fan of cutting-edge technology and is usually ahead of the curve when it comes to finance, but he's not a bitcoin bull. The co-founder of Tesla Inc. In November , Musk denied rumors that he was Satoshi Nakamoto, the mysterious inventor of bitcoin. Gupta reasoned: "Elon is a self-taught polymath. The true identity of Nakamoto has never been confirmed, but there has been a steady stream of speculation about who he is ever since bitcoin quietly launched in
Elon Musk pumps Dogecoin with yet another tweet, token surges 25%
There used to be a time when cryptocurrency world was still new and the hows and whys of crypto were still unknown to people. That is perhaps what led to only a few cryptos being sold around in the market. However, as the sector keeps growing so does the knowledge around it and the people interested in making a quick buck out of it. Which in its stead has led to the creation of new cryptocurrencies becoming much easier than ever before. The Squid Game cryptocurrency also came under the scanner not long back for turning out to be a huge scam. People had unknowingly bought into it thinking it was legit driving up its market value to extreme heights and one day the creators of the currency just shut it down, leading to a lot of people experiencing severe loss.
What is Dogecoin and what does it have to do with Elon Musk and Saturday Night Live?
Musk's five-word message -- "Tesla merch buyable with Dogecoin" -- garnered more than , likes on the platform and sparked a spirited, meme-filled debate in the comments section. Meanwhile, Tesla's website for merchandise and accessories which doesn't sell its famous electric vehicles on Friday showed updated checkout buttons next to some of its products for those wanting to pay with Dogecoin. For years, the so-called meme coin had been worth less than a penny. After the Musk's tweet on Friday, it was trading at around 19 cents -- a big leap compared with historical lows but still roughly one-third of its record value last May of over 60 cents. It's not the first time a Musk tweet has been linked to swings in the crypto market. The price of Bitcoin nosedived last May in the wake of Musk's Twitter announcement that his company would no longer be accepting Bitcoin as payment due to its ties to fossil fuels -- a steep fall that dragged down other popular cryptos at the time as well. This saga came just months after a separate announcement that Tesla would accept Bitcoin as payment was linked to a sharp rally.
How Elon Musk’s Tweets Are Impacting the Cryptocurrency Industry
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Commentary: Elon Musk gambles big on bitcoin to keep Tesla going strong
In response, McDonald's tweeted , "Only if tesla accepts grimacecoin. About 10 other versions of grimacecoin started trading on the Binance Smart Chain network alone, CoinDesk found. McDonald's did not immediately respond to Insider's request for comment on the matter. To Fortune , the company said it does not have an affiliation with any grimacecoin. McDonald's entered the crypto conversation earlier this week when digital assets like bitcoin dropped as the broader market slumped.
Elon Musk-McDonald’s Joke Creates ‘Fake’ Cryptocurrency Seeing A Jump Of 285,000%
I will eat a happy meal on tv if McDonalds accepts Dogecoin. Even more concerningly the coin was created anonymously which many pundits on Reddit have warned to be a major rug pull. A rug pull being when the creators of a crypto token rapidly cash out their coins for real money-draining the liquidity pool from the exchange, torpedoing the price of the asset permanently. Though possible the most ominous sign yet that this is a financial trojan horse, every transaction is taxed 10 per cent. If events unfold as many expect, GrimaceCoin holders could suffer the same fate as the ill-fated investors in the Squid Coin scam.
Doge-Funded Elon Musk Moon Mission Creates Buzz, But Meme Coin Falls
Investors have assumed that this tweet is related to the cryptocurrency, Starbase STAR , which has been trading since Investors still flock in to invest in this cryptocurrency, suggesting a pump and dump is bound to happen when they realize the tweet and the cryptocurrency are unrelated. It has a current supply of 1,,, with ,, in circulation. Investors have made similar mistakes in times past.
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