How Musk Became the Godfather of Memes

Musk's concept meme coin has skyrocketed again, this time it is "ClosedAI". On March 6, Musk mentioned "ClosedAI" several times when criticizing OpenAI on Twitter, and the meme token rose by more than 2,800% in three hours.

Musk is a meme token promoter, from the intentional Doge to the unintentional ClosedAI. Musk has become the undisputed godfather of Meme. He not only actively promotes some Meme coins, but also has people watching his Twitter in order to find on-chain projects or mass-produce Meme coins as soon as possible. The following is a summary of typical Musk-concept Meme coins by Golden Finance.

Doge

Doge was born in 2013, and its earliest use was for small rewards on the Internet. In the bull market of 2021, Musk frequently posted comments about Doge on his Twitter, and publicly called for Dogecoin when he participated in TV shows. The most recent high-profile call was in April 2023, when the Twitter icon was changed to a Shiba Inu, and Doge rose by 30% on the same day.

It can be said that Doge is currently deeply bound to Musk. People have rumored that Musk wants to use Doge as a payment token on Twitter, and that Musk wants to use Doge as a token for circulation on Mars... Despite various speculations, Doge's popularity has not diminished.

The current market value of Doge is 22 billion US dollars, ranking 9th.

FLOKI

Another member of the dog family, in 2021, Musk posted a photo of his pet Shiba Inu on Twitter, named FLOKI. Later, someone created a Meme token with the same name, and now FLOKI is no longer just a Meme coin. Starting from the Meme coin, the team also created NFT, Defi, blockchain games, and founded courses related to crypto education. And it benefited from the zoo market in the last round of bull market, so its market value and number of holders are both at the forefront of Meme coins. However, other projects founded by its ecosystem are not as popular as its Meme project.

Currently, its market value is US$1.28 billion and ranks 82nd.

TROLL

On January 9, 2024, Musk changed his Twitter profile to (CTO) chief Troll Officer, and the price of TROLL coin soared.

TROLL is actually a token deployed on Ethereum a year ago, but it did not make any waves until Musk changed his Twitter signature. After Musk deleted his Twitter signature, TROLL also fell 50%.

However, in this round of Meme craze, it has more than doubled, and is a more vital Meme coin compared to SMILEY.

The current market value is 68.36 million US dollars and is currently ranked 2366th.

GROK

In December 2023, Musk announced the launch of the first AI model GROK, and the Meme coin of the same name was subsequently established, which rose fivefold in two days. However, after someone revealed that GROK was created by a scam artist, the price of the coin fell to a cliff.

GROK’s current market value is $67 million and ranks 2401st.

SMILEY

On January 16, 2024, Musk released a meme picture. Because the text on it contained meme and smiley elements, the price of SMILEY, a token previously deployed on Ethereum, rose accordingly. The increase in one day was as high as 895%.

However, like most Meme tokens, this token plummeted after a surge. Although it has experienced the Meme craze again, its price has not seen another surge.

Currently, the market value is 2.13 million US dollars and ranks 2619th.

Summarize:

Just a week ago, Musk tweeted "Fine, I will get back on the meme grindstone!"

The Meme coin market has been in turmoil again. Meme coins are a market dominated by emotions, and celebrities have their own traffic, so the market for Meme coins that are ordered by them will not be bad. In addition to Musk, Vitalik-related Meme tokens have also grown wildly. However, these Meme coins related to celebrities are also affected by the words and deeds of celebrities, and the risks are relatively high. For example, Musk's statement on a TV show that "Dogecoin is a scam" caused it to plummet.

Moreover, most meme tokens that are related to celebrities have a short life cycle. After a surge, they will basically plummet and no one will care about them. Only meme coins like Doge, which Musk has been calling for, will always be popular. For investors, what they need to do is to discover early meme-related opportunities, actively invest, and then leave when the market is booming.

We look forward to Musk actively embracing the Meme culture and promoting the birth of more Meme coins that will increase hundreds or thousands of times in this bull market.