Elon Musks Latest Tweet Triggers Meme Coin Fiesta You Want to See

Nov 23, 2023 | Celebrities Memecoins, Memecoin News




Elon Musks Latest Tweet Triggers Meme Coin Fiesta You Want to See

Elon Musk, the CEO of Tesla and X Corp, recently posted a cryptic tweet that read “met a meta metameme?”. This tweet, not explicitly attributed to anyone, has been linked by community members to Facebook’s parent company, Meta Platforms Inc. It has generated significant attention, with over 4.6 million views and 6,200 comments, indicating its potential to go viral like Musk’s previous posts​​.

The tweet has triggered what is being referred to as a “meme coin fiesta” within the cryptocurrency community. Meme coins, which are a significant part of the crypto ecosystem, have been enthusiastically promoted by Musk in the past. His tweets have previously promoted coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Milady Meme Coin​​.

Following Musk’s tweet, the Milady Meme Coin (LADYS) experienced a staggering increase of 7300% within just 24 hours. The tweet featured a character from the Milady Maker NFT project and the caption “there is no meme, I love you.” Despite no official affiliation with the Milady NFT Project, the tweet significantly boosted the sales of the Milady Maker NFT project​​.

Musk’s influence on the cryptocurrency market has been notable, particularly with meme coins and major cryptocurrencies like Bitcoin and Dogecoin. His announcements and endorsements have historically caused significant price fluctuations. For instance, announcements like Tesla accepting Bitcoin as payment and later stopping it have had considerable impacts on Bitcoin’s price. Similarly, his support for Dogecoin has led to dramatic price increases for the meme coin​​.

While Musk’s influence was more pronounced in the earlier stages of 2021, it appears that the market has either grown more robust or weary of such celebrity influences. The response to his latest tweets about meme coins like Dogecoin seems less pronounced compared to previous years. The broader crypto market is expected to continue maturing with further regulation and innovation, which might lead to a decrease in the influence of celebrities and social media on market prices​​.

What did Elon Musk’s latest tweet say?

Musk’s latest tweet was cryptic and read “met a meta metameme?”. It has been linked to Meta Platforms Inc. by community members

How did the crypto market react to Musk’s tweet?

The tweet led to a significant reaction in the meme coin market, particularly with the Milady Meme Coin experiencing a 7300% increase in value within 24 hours.

Is there a connection between Musk’s tweet and the Milady NFT project?

While Musk’s tweet featured a character from the Milady Maker NFT project, there is no official affiliation between the tweet and the NFT project

Is the influence of celebrities like Musk on the crypto market decreasing?

Yes, there are indications that the market is becoming more resilient to such influences, with the response to Musk’s recent tweets being less impactful compared to previous years.

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