Social media darling Elon Musk despatched the meme-coin world right into a tailspin with a seemingly innocuous St. Patrick’s Day tweet. The tech magnate, famend for his affection for memes and his affect as “Dogefather”, posted a lighthearted picture that includes three canines adorned in festive inexperienced hats, one among them a Shiba Inu, the mascot of Dogecoin.
Memecoin Fans React To Elon Musk X Submit
This seemingly informal social media exercise sparked a vibrant response from the meme-coin group. Crypto accounts affiliated with Dogecoin, Floki Inu (FLOKI), and Shiba Inu (SHIB) flooded the replies with enthusiastic messages, some that includes their very own canine mascots.
— Elon Musk (@elonmusk) March 17, 2024
This isn’t the primary time Musk has, deliberately or unintentionally, impacted the meme-coin market. In 2021, a tweet showcasing his newly adopted Shiba Inu pet, named Floki in homage to a personality from Vikings, is believed to have triggered the launch of the Floki Inu coin. Apparently, the identical day witnessed the start of Baby Doge Coin, additional solidifying Musk’s popularity as a meme-coin kingmaker.
Glad St. Patricks Day from $SANI pic.twitter.com/rA1tAKSg69
— Lee 🏴☠️ (@Lee_apez) March 17, 2024
Floki is now a ” Huge Boy “.. pic.twitter.com/wSvCcjnvqs
— मैं भारतवासी🇮🇳 (मोदी का परिवार) (@SachienTayal) March 17, 2024
In the meantime, as memecoin fans revelled in Musk’s festive tweet, the tech mogul was making important strides on one other technological entrance – Synthetic Intelligence. His not too long ago established firm, xAI, has delivered on its earlier promise by open-sourcing Grok, its AI chatbot.
Complete crypto market cap. Chart: TradingView
This transfer marks a big contribution to the sector of clear AI growth. By open-sourcing Grok, xAI has granted public entry to the structure and core functionalities of this mammoth 314 billion parameter language mannequin.
Musk’s Twitter Influence: From Controversy To Monetary Market Affect
The tweets made by Elon Musk have been a subject of significant attention and controversy attributable to their affect and content material. Musk, a prolific tweeter with a large following, has a historical past of posting tweets which have stirred each constructive and unfavorable reactions. Over time, Musk has been identified to delete tweets shortly after posting them, with a whole bunch being eliminated inside hours of publication.
Notably, a few of his tweets have led to severe penalties, such because the notorious tweet in 2018 the place he claimed to have secured funding to take Tesla personal at $420 a share, leading to costs from the Securities and Trade Fee and a subsequent settlement that imposed restrictions on his Twitter exercise relating to Tesla.
The billionaire’s acquisition of Twitter and subsequent actions because the platform’s proprietor have additionally drawn consideration. Since taking on Twitter, Musk has expressed his dedication to free speech and diversifying voices on the platform.
Nonetheless, regardless of his intentions, his Twitter feed has been criticized for occasionally appearing as an echo chamber, the place he interacts primarily with accounts that assist him or publish about him.
This habits has raised issues about how Twitter could evolve beneath his management. Furthermore, his tweets have had a direct affect on monetary markets. A number of situations stand out the place his tweets influenced Tesla’s inventory costs considerably.
For instance, Musk’s tweet questioning Hertz International Holdings Inc.’s deal to purchase Teslas for its rental-car fleet led to a 3% drop in Tesla’s inventory the next day. Equally, his tweets about Tesla’s valuation or manufacturing predictions have precipitated fluctuations within the firm’s inventory costs.
Featured picture from Pexels, chart from TradingView
Elon Musk Sends Dogecoin Fans Into Frenzy With Cryptic Tweet bitcoinist.com 2024-03-19 18:04:34
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