Elon Musk’s influence on the crypto industry is not hidden from anyone. The multi-billionaire openly supports the crypto industry, especially the Dogecoin meme coin, but he has also shown support for others, including Kekius Maximus, whose price blew up 1200% recently. Interestingly, Musk again indirectly endorsed a Pepe-themed crypto, pumping CumRocket price by 400%. Let’s discuss what’s happening.
Elon Musk Tweet Pumped CumRocket Price to 6-Month High
Elon Musk is known for his open-book nature, where he speaks and does things freely. With this attitude, he took over Twitter and turned it into X and hundreds of other things. Interestingly, the same attitude pumped some of the cryptocurrencies massively, as Musk shared or talked about them in public, pumping their prices. This time, an adult-themed cryptocurrency, CumRocket (CUMMIES), rose 400% after Musk tweeted a joke on the IRS featuring a frog variation of the PEPE Apu Apustaja image.
Although the post was to mock the IRS tax reporting requirements, it referenced the popular meme coin. As a result, the CumRocket price surged 400%, reaching a six-month high at $0.0225. However, the hype did not last long, and the token’s price dropped to $0.009959, but it was still up by 136% in the 24-hour timeframe. Its market capitalization is $15,293,181, with $9,888,109 in trading volume.
Interestingly, this is not the first time Musk has interacted with this PEPE-themed meme coin. Musk also tweeted about the CUMMIES in June 2021, when the token-inspired meme was really popular. Even at the time, Musk’s involvement pumped the CumRocket price by 400% within just ten minutes.
Elon Musk Previously Pumped the Kekius Maximus By 1200%
The Kekius Maximus holders received the best New Year’s gift from the Tesla owner, who updated his X profile with Kekius Maximus on December 31. He changed his name and profile picture to this PEPE meme coin, eventually pumping the KEKIUS price by 1200%, currently trading at $0.154. The rally continued for two days before Elon changed his profile again. In this period, many crypto traders made heavy returns. One trader made 17,000% returns on KEKIUS investment within just 60 minutes.
However, those who followed FOMO and bought the token later experienced heavy losses. Musk’s changing profile led to selling sentiment among holders, which crashed the token. As a result, one person lost a Million within 12 hours.
Regardless of the fluctuations, Musk’s endorsement and interactions with cryptocurrencies have been amazing for the holders.
What’s In There For You?
Crypto investors use various trading strategies to profit from the market. One strategy is to follow influential people’s investments in their token endorsements, which usually boosts token prices. The best example is these two tokens, Kekius Maximus and CumRocket, which surged to new highs after Elon Musk’s tweet. Interestingly, many traders have made heavy profits from the CumRocket price rally, but the hype does not last long, putting the later boomers at risk of loss.
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