ApeCoin price ‘crazy’ according to Elon Musk’s ‘inspiration’

Specifically, Elon Musk suddenly changed the profile picture social network Twitter to form a collage of the works of the collection NFT Bored Ape Yatch Club. Immediately, the price of ApeCoin skyrocketed 20% (from 14.49 USD to 17.49 USD) within an hour.

ApeCoin suddenly increased about 20% in value after Elon Musk changed Twitter avatar coinmarketcap

However, about an hour later, the billionaire technology suddenly posted a status line “I dunno… seems kinda fungible”. After this move, the value of ApeCoin plummeted: from 17.4 USD to 16 USD in just a few minutes.

ApeCoin 24-hour trading volume has increased from $1.2 billion to $1.7 billion.

Just changing avatar and a status line, Musk made the price of ApeCoin “crazy” in just 1 hour Screen capture

ApeCoin is the management token of the Decentralized Autonomous Organization (DAO) of the two most valuable NFT collections on Ethereum, Bored Ape Yatch Club (BAYC) and Mutant Ape Yatch Club (MAYC). ApeCoin has been listed on Binance since March 17 and is one of the most interested cryptocurrencies.

Regarding BAYC, this NFT collection includes 10,000 works traded on the OpenSea platform with a total transaction block of 547,400 ETH (approximately $1.6 billion at the time of this writing). The MAYC Collection has more than 19,000 works with a transaction volume of 379,600 ETH (approximately $1.1 billion).

Up to now, there have been quite a few famous people claiming to have owned NFT in BAYC or MAYC such as Eminem, Justin Bieber… even, the rumor that Elon Musk bought NFT BAYC #1837 with a girl of 569 ETH has surfaced back in the day. January 1, 2022.

Before ApeCoin, Elon Musk’s moves had many times strongly influenced the cryptocurrency market, most notably the memecoin Doge (Dogecoin). Recently, This cryptocurrency has skyrocketed 30% since the rumor that Musk successfully persuaded the Twitter board to be leaked.