Elon Musk accidentally created a new cryptocurrency. WTF?

[s.tanishka]

For sure meme coins will always attract users. The thing is that I guess about 90% then appear to be a scam. Or simply don't get the needed support and investments and simply die. It should be produced by a really expert team with a good amount of investments. In other case it has no chance to survive.

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

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[errorcode99]

What I'm asking is what led Elon Musk to create a coin and not make an official announcement. i believe he will not do that. we all need to use our help and do some research so that we don't make costly mistakes.

[Sethrey]

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

I don't think that you're right. There are some meme coins that gained certain popularity and continues rising and improving. It works the same way like with all the other crypto. If the devs are serious about the project - they will do everything in order to make it grow and gain popularity.

[bayudndy]

What I'm asking is what led Elon Musk to create a coin and not make an official announcement. i believe he will not do that. we all need to use our help and do some research so that we don't make costly mistakes.

I think you are misunderstanding here, Elon Musk is not behind any coin at all, that is my speculation and in fact I have never seen Elon involved in any particular crypto. The point is that he is a huge influence, his every word, every gesture, every action he takes is noticed by everyone. And especially crypto market participants, and dev teams are waiting for the brand name to sound out to him.
Ex: he twirled ''Doge'', you can imagine what happened after that.

[Lainta]

What I'm asking is what led Elon Musk to create a coin and not make an official announcement. i believe he will not do that. we all need to use our help and do some research so that we don't make costly mistakes.

I think you are misunderstanding here, Elon Musk is not behind any coin at all, that is my speculation and in fact I have never seen Elon involved in any particular crypto. The point is that he is a huge influence, his every word, every gesture, every action he takes is noticed by everyone. And especially crypto market participants, and dev teams are waiting for the brand name to sound out to him.
Ex: he twirled ''Doge'', you can imagine what happened after that.

Yes, You are correct that Elon Musk's influence and public statements can have a significant impact on the cryptocurrency market, as seen with the recent surge in interest and value of Dogecoin following his tweets about it. It is important for investors to be cautious and not base their decisions solely on the opinions or actions of any one individual, as the cryptocurrency market can be highly volatile and subject to rapid fluctuations.

[s.tanishka]

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

I don't think that you're right. There are some meme coins that gained certain popularity and continues rising and improving. It works the same way like with all the other crypto. If the devs are serious about the project - they will do everything in order to make it grow and gain popularity.

At the moment, meme coins have more minus than plus. Meme coins are a relatively new phenomenon and do not have a long track record of performance. It can be difficult to assess their potential for long-term growth and stability. They are often created without a clear use case or long-term roadmap, and their prices can be highly volatile and difficult to predict.

[Sethrey]

At the moment, meme coins have more minus than plus. Meme coins are a relatively new phenomenon and do not have a long track record of performance. It can be difficult to assess their potential for long-term growth and stability. They are often created without a clear use case or long-term roadmap, and their prices can be highly volatile and difficult to predict.

That's why investing in meme coins works on the early stage only and you have to withdraw very soon also, at the moment it gains the population. Don't wait for it to rise forever. It blasts quickly and then nothing happens. That's why I don't participate in it.

[Mozzart]

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

I don't think that you're right. There are some meme coins that gained certain popularity and continues rising and improving. It works the same way like with all the other crypto. If the devs are serious about the project - they will do everything in order to make it grow and gain popularity.

At the moment, meme coins have more minus than plus. Meme coins are a relatively new phenomenon and do not have a long track record of performance. It can be difficult to assess their potential for long-term growth and stability. They are often created without a clear use case or long-term roadmap, and their prices can be highly volatile and difficult to predict.

They have no potential and are doomed to low interest. Meme tokens can only be interesting for a certain event in the long run, this is most often a losing option. As an investment, they are not suitable, they are more like a lottery.The developers of such projects are only interested in personal profit.

[Bay_Harbour_Butcher]

I will never trust meme coins again, even if the meme coins are promoted by Elon Musk or other big influencers, because in my opinion meme coins don't have good quality, and the foundation is weak, that's why so many meme coins end up collapsing

[kak uli]

The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog.

He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour.

After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%.

Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC.

Is all the excitement around the project really a hype? Like chiahype and etc.?

someone who has a lot of assets and is known as a rich person, whatever he talks about will be very influential, both in cyberspace and in the real world.
elon musk for example, he has been named the number 1 richest person before the current Bernard Arnault. So whatever he talks about regarding digital currency must have an effect on the market. people will believe what he says. I think everything Elon Musk talks about always has an effect on the market, and that's part of the hype that elon musk is doing

[errorcode99]

The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog.

He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour.

After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%.

Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC.

Is all the excitement around the project really a hype? Like chiahype and etc.?

I never knew that Elon Musk Had to create a new token this time only. And you don't mention what coin it is if it's true unless it's just a rumor you heard from others. And we all know that if this is true, surely the value of the coin that Elon Musk mentioned will definitely increase in price in the market, because we know that Elon Musk has the ability to influence the public to buy the coin he is promoting in cryptocurrency.

[borovichok]

I will never trust meme coins again, even if the meme coins are promoted by Elon Musk or other big influencers, because in my opinion meme coins don't have good quality, and the foundation is weak, that's why so many meme coins end up collapsing

Don't get the wrong impression about memecoins because I've benefited quite a lot from these projects. Elon Musk is a whale behind the massive pump and sudden dump of most the memecoins. When he was the CEO of Dogecoin, he bagged large pieces of the coin and that alone enchance in the pump of Dogecoin, he later abandoned it and today it's easily referred to as stablecoin. Memecoins doesn't have a long span in the bull market, they're just there to aides the experience traders in making good profits from the market.

[siniminomorocomunisakito]

It seems that it is not uncommon for high-profile individuals to influence market sentiment through their social media posts, as seen in the case of Elon Musk's previous comments about Dogecoin and Bitcoin. However, the launch of a new cryptocurrency based on personal nicknames for pets raises questions about the sustainability and legitimacy of such projects.

While the initial hype and usually price spike can also be attributed to Elon Musk's influence, the long term success of the Floki token and its environmental friendliness remains to be seen. As you mentioned, there are already green projects on the market, and it is important to consider the environmental impact of any cryptocurrency project before investing.

But the excitement and hype surrounding such a project should be viewed with caution, as seen in Chia's case, where the initial excitement eventually led to a drop in market value.

[cafee_orange]

The founder of Tesla and SpaceX, Elon Musk, again stirred up the cryptocurrency market on Friday, leaving a seemingly harmless message about his new dog.

He said that he chose a nickname for his Shiba Inu puppy. His name will be Floki. In early May, Elon Musk first announced that he intends to take a Shiba Inu puppy. Then the cost of the Shiba Inu cryptocurrency increased by 68% in an hour.

After Friday's announcement by Musk, the Shiba Inu exchange rate increased by 26%, but later corrected. However, another thing is more interesting: 9 minutes after the appearance of Musk's post on Twitter, the Floki token was created on the decentralized Uniswap crypto exchange. Within an hour, its price increased by 795%, to $0.000000001100. As a result, the growth was about 3500%.

Do you think this is another attempt to influence the crypto market? Will the project be eco-friendly, because in the case of chia, everything was not so positive? There are already green projects on the market, for example, Crypton , for mining which only needs Internet access and a PC.

Is all the excitement around the project really a hype? Like chiahype and etc.?

what we need to understand is that elon musk's financial strength is beyond, in my opinion whatever he will say then someone will see the money ability that elon musk has. speaking of crypto, it seems that whatever elon musk's recommendations for digital currency, almost everyone believes what he will say. as well as the popularity of shiba inu some time ago, this cannot be separated from what elon musk said and the financial strength he has

[s.tanishka]

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

I don't think that you're right. There are some meme coins that gained certain popularity and continues rising and improving. It works the same way like with all the other crypto. If the devs are serious about the project - they will do everything in order to make it grow and gain popularity.

At the moment, meme coins have more minus than plus. Meme coins are a relatively new phenomenon and do not have a long track record of performance. It can be difficult to assess their potential for long-term growth and stability. They are often created without a clear use case or long-term roadmap, and their prices can be highly volatile and difficult to predict.

They have no potential and are doomed to low interest. Meme tokens can only be interesting for a certain event in the long run, this is most often a losing option. As an investment, they are not suitable, they are more like a lottery.The developers of such projects are only interested in personal profit.

I agree with you. In the long run, the meme-coins isn't even worth considering. Just one statement by Elon Musk can bring down or raise the rates of meme-coins and not only them.

[mich]

These cryptocurrencies are very volatile, their value can fluctuate greatly. Many memcoins are created as a joke. Given that they were created as a joke, it is likely that Memcoins will attract scammers who will commit scams. I don’t understand why else they are created, so they often come and go along with the popularity of their meme.

I don't think that you're right. There are some meme coins that gained certain popularity and continues rising and improving. It works the same way like with all the other crypto. If the devs are serious about the project - they will do everything in order to make it grow and gain popularity.

At the moment, meme coins have more minus than plus. Meme coins are a relatively new phenomenon and do not have a long track record of performance. It can be difficult to assess their potential for long-term growth and stability. They are often created without a clear use case or long-term roadmap, and their prices can be highly volatile and difficult to predict.

They have no potential and are doomed to low interest. Meme tokens can only be interesting for a certain event in the long run, this is most often a losing option. As an investment, they are not suitable, they are more like a lottery.The developers of such projects are only interested in personal profit.

I agree with you. In the long run, the meme-coins isn't even worth considering. Just one statement by Elon Musk can bring down or raise the rates of meme-coins and not only them.

Well only meme coin for me to consider for a long term hodl is original meme coin Doge. We saw yesterday something that is so big for this meme coin now it is the face of Twitter.
We have to guess Elon Musk has something planned for his social media app. He did not just do this for a quick laugh. He is thinking how he can make more money and he is giving us hints by doing this.

[Sethrey]

I will never trust meme coins again, even if the meme coins are promoted by Elon Musk or other big influencers, because in my opinion meme coins don't have good quality, and the foundation is weak, that's why so many meme coins end up collapsing

While it's wise to be cautious with meme coins, it's important not to paint all cryptocurrencies with the same brush. Do your own research, and look for projects with a strong team, clear vision, and a solid track record of success. By doing so, you may find opportunities to invest in cryptocurrencies that have the potential to generate real value in the long term.

[blockman]

Did everyone see the surge in Dogecoin? Again, thanks to Elon that have made the Twitter logo into the face of a dog. Again, he's on it and everyone who's excited about Dogecoin and Elon made profits again I guess.
(https://www.reuters.com/technology/dogecoin-jumps-musks-twitter-flips-logo-shiba-inu-dog-2023-04-04/)

[podluznyj]

Did everyone see the surge in Dogecoin? Again, thanks to Elon that have made the Twitter logo into the face of a dog. Again, he's on it and everyone who's excited about Dogecoin and Elon made profits again I guess.
(https://www.reuters.com/technology/dogecoin-jumps-musks-twitter-flips-logo-shiba-inu-dog-2023-04-04/)

Yes, Elon Musk, if he’s already tired of his dogs, he turned it all into clowning, because in fact the coin itself does not have growth, and he artificially raises the price.I do not believe in this crypt and I will not get into it Elon Musk is a deceiver

[savetheFORUM]

only meme coin for me to consider for a long term hodl is original meme coin Doge. We saw yesterday something that is so big for this meme coin now it is the face of Twitter.
We have to guess Elon Musk has something planned for his social media app. He did not just do this for a quick laugh. He is thinking how he can make more money and he is giving us hints by doing this.

Other than DOGE maybe you can also add SHIB on the side, if you are into meme coins as SHIB was also widely accepted and I heard that there are creating some projects under it. I am not only updated if some of those are already deployed now and some could still be in the development phase. Back in DOGE, yes I saw it earlier this morning that it is now showing when I load the Twitter website but the little blue bird is still there, showing on some pages.

I guess it's too early too celebrate yet? And maybe other users are right that it was only put there to celebrate the April Fools Day. Maybe Elon can make money by hyping DOGE coin again, better than making money in Twitter. Well that seems like a good business for him at least?