Elon Musk sparks new wave of interest in meme tokens
Elon Musk sparks new wave of interest in meme tokens
The CEO of Tesla and X Corp., Elon Musk, known for his support of cryptocurrencies, has once again stirred up the crypto community.
On his X (Twitter) page, Musk shared a message related to what many believe are meme coins, triggering a strong reaction from supporters of the asset type.
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At the time of writing, the post has received nearly 7 million views and 6,900 comments, indicating that it will go viral like all of Musk's other posts.
Although Musk did not specify which meme coin he was referring to, meme supporters linked the tweet to Facebook's parent company, Meta Platforms Inc., U.Today reported.
It's worth noting that meme coins are volatile compared to major cryptocurrencies, and their price is largely dependent on social media and the sentiment of the online community.
Elon Musk is actively contributing to the revolutionary development of meme coins, regularly posting tweets in support of Dogecoin (DOGE), Shiba Inu (SHIB), and even Milady for his massive audience.
Not to be overlooked, many meme coins created for fun have made the rapid leap from joke to key part of the cryptocurrency ecosystem.
Leading this transformation is Shiba Inu, which recently launched the Shibarium Layer-2 protocol for scaling Ethereum (ETH). Although its launch has faced many challenges, Shibarium continues to evolve and support transactions.
Dogecoin, Floki, and BabyDoge also stand out among the most significant meme coins.
Read also: Total damage from the HTX and HECO network hack amounted to $110 million.
