The versatile genius and visionary tech giant Elon Musk is well-known for his inventive and profitable contributions to society. He is notable for his impact on the blockchain space and crypto market and his positions at SpaceX, Tesla, Boring Company, OpenAI, xAI, and Nuralink.
A notable aspect is his influence on meme coins. The fans pump or create specific meme coins whenever he tweets. When he tweeted that he had a pet hedgehog named Shrub, somebody created a crypto called $SHRUB, and a community was formed around it. Whenever he tweets about Doge, it pumps hard for a short period. After temporarily renaming his X account into Kekius Maximus, a token by the same name was pumped.
Elon Musk, the world’s richest man, beyond his ambitious plans for the future such as colonizing Mars, is knowingly or unknowingly an inevitable part of the crypto world. This article will be a journey through the meme coins that got exposure due to Elon. We will check how his influence will change the fate of the niche. Let’s start.
Top Elon Musk-Influenced Meme Coins
Elon’s journey into a cryptocurrency KOL began by endorsing the well-known meme coin Dogecoin. Every time he tweeted about Doge or shared a Shiba Inu meme, its value skyrocketed. He even performed a Doge-based show on Saturday Night Live (SNL) and was hailed as the Dogefather. Here is a list of meme coins that depend upon Elon to surge:
Dogecoin
The most popular meme coin is based on the Shiba Inu dog. Today’s market cap is 49 billion dollars. Elon Musk has been the promoter of $DOGE from its early days. Following the arrival of the Department of Government Efficiency (DOGE) led by Elon, we can expect the crypto token to boom in the upcoming years.
Dogelon Mars
Dogelon Mars was a leading meme coin in 2021 when Elon Mask created virality around his potential mission to Mars. However, the coin fell from a 1 billion dollar market cap to 100 million dollars. $ELON is expected to rebound when Elon Musk begins the Mars mission.
Kekius Maximus
When Elon Musk renamed his X (Twitter) profile into Kekius Maximus for fun, the $KEKIUS token skyrocketed into billions. When he renamed it back to Elon, the token was dumped, bleeding hard and making losses for numerous traders. However, certain traders still HODL the token, expecting Elon to rename his profile again.
Shrub
When Shrub became viral due to Elon, it had a market capitalization of 185 million dollars. Similar to all other meme coins, the cap diminished when it lost its viral status. Now, SHRUB is trading around a 22 million cap and there are strong chances for Elon to tweet about his pet Shrub again.
Musk It
It is a recent currency launched via the Solana blockchain pump fun platform. You can swap to $MUSKIT via Raydium DEX or exchanges like MEXC and WEEX. As a new coin with less market capitalization, we can expect it to pump soon with the influence of Elon.
Will Elon Musk’s Influence on Meme Coins Bring a Positive Change?
Elon Musk is a well-known personality in the cryptocurrency world who influences the charts with his words and actions. He has become a key opinion leader (KOL) in the blockchain world through his tweets. Beyond his pro-crypto stands, he has also made several critical comments.
Elon’s statement about removing BTC from payment options in Tesla ignited a bear phase for the coin in 2021. When he called Dogecoin a hustle in the Saturday Night Live program, $DOGE witnessed its most severe dump. That means we have to be very careful while trusting Elon’s tweets. Any unpredictable tweets may come from him.
Final Thoughts
Elon Musk’s fascination with blockchain is nothing new. Several Web3 fans speculate that he is the person behind the pseudonym Satoshi Nakamoto because his PayPal mechanism is comparable to that of Bitcoin. He refuted the assertion himself. As a humorous rich man, Elon can go well with the meme niche of crypto.
If you are planning to purchase Elon Musk-influenced currencies, make sure you follow every tweet he posts. Always be alert and make your movements at the right time. Otherwise, you will get rekt by the volatility of the meme coin niche.
