The crypto world is no stranger to the meme coin craze, and the latest catalyst for the new token craze is none other than Elon Musk. Tesla and SpaceX CEO Elon Musk came to the fore with his controversial words. With these words, he inspired the creation of numerous tokens, some of which have risen to market capitalizations exceeding $25 million. At the same time, in a surprising move, Tesla quietly updated its website to potentially allow customers to pay for the highly anticipated Cybertruck with Dogecoin (DOGE). Here are the details…
Elon Musk became the architect of meme coins
Leading the way in this meme coin wave is GFY, which stands for “go f–k yourself.” Musk’s choice of words in an interview about advertisers withdrawing from social network The market values of these tokens range from under $15,000 to over $25 million. One in particular has a staggering $19 million in trading volume from nearly 4,000 owners in the last 24 hours.
Additionally, TRUCK tokens have emerged, another obvious nod to Musk, with Tesla launching its Cybertruck this week. These followed GROK, a token called GrokAI chatbot built by xAI, a division of X. This token surged more than 10,000% after being issued in early November. However, it fell 50% after its developer was linked to failed projects.
DOGE integration for Cybertruck
In an unexpected development, Tesla has quietly updated its website, pointing to the integration of Dogecoin (DOGE) as a payment option for its new Cybertruck model. Analysis of the site’s codes reveals multiple references to DOGE integration. While this change hasn’t been officially announced, it adds to Tesla’s history of crypto acceptance, having previously allowed payment with Bitcoin for certain products.
This isn’t Tesla’s first dance with DOGE; The company had previously accepted Dogecoin for a children’s ATV, resulting in a significant price increase for the cryptocurrency. However, the price pulled back the next day. After years of delays and production hurdles, the Cybertruck has finally made its debut at Tesla’s factory in Austin, Texas, showing off impressive features like towing capabilities, bulletproof doors, and impressive speed.
The importance of Musk in the crypto world
While the crypto world continues to embrace meme coins fueled by influential figures like Elon Musk, the market remains dynamic and unpredictable. Whether it is the appeal of humorous tokens or the integration of cryptocurrencies into major companies like Tesla, the crypto landscape is evolving and presenting both challenges and opportunities for investors and enthusiasts alike. Stay tuned for further developments in this ever-changing field.
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