Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,165 trillion. Bitcoin is up by over 2% after a rollercoaster of a week. Ethereum decreased by almost 1% over the past seven days. XRP gained more than 15% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols…
Elon Musk’s Cryptic Tweets Send CumRocket Cryptocurrency to the Moon
Elon Musk has once again moved the crypto market after shilling another cryptocurrency on Twitter. This time around, the SpaceX CEO caused the price of adult-themed cryptocurrency CumRocket (CUMMIES) to shoot up 350% in just 10 minutes.
On June 5, the celebrity investor tweeted a series of emojis that appeared to reference CumRocket going to the moon. Musk first wrote, “Canada, USA, Mexico,” which some on crypto Twitter somehow interpreted as hinting at the phrase “CUM” based on the first letters of each named country.
He then followed up with a series of other cryptic tweets, which all but confirmed his endorsement for the X-rated UK-based cryptocurrency. Musk shared a rocket ship emoji followed by a moon in one of the tweets, sparking a massive price surge that saw CUMMIES set a new lifetime high of $0.285.
💦🚀 –> 🌙
— Elon Musk (@elonmusk) June 5, 2021
The official CumRocket Twitter account acknowledged Musk’s support that helped set their token’s price on fire over the past weekend. The account posted a picture of a rocket ship ready for launch and teased Elon that they would “even pay for the paint.”
Musk Worked his Magic Again
The Tesla boss has been making waves in the crypto space for months with his controversial Twitter endorsements of various digital currencies. In the past, he has mainly focused on bitcoin and DOGE.
Musk’s latest endorsement of adult-themed crypto shows that he doesn’t seem to care about the disdain for his bizarre tweets coming from the crypto community.
CumRocket describes itself as a novel 18+ NFT marketplace where people can buy, sell, swap, and collect exclusive X-rated content. In addition, content creators on the platform can post private content and get paid/tipped in CUMMIES.
The CEO’s enigmatic tweets have in the past led to crypto-assets either crashing or erupting to the moon, depending on how crypto Twitter interprets the posts. However, on this occasion, the billionaire has succeeded in propelling CumRocket to new heights.
CUMMINS is now trending on Twitter, with multiple users advocating for the token to reach the moon. The adult-themed token, which has been in existence since April 2021, was listed on the Digifinex exchange on June 2, 2021.
Musk Tweets Bitcoin Breakup Meme
The past few days have seen no shortage of Musk’s cryptic posts. On June 4, Musk tweeted a broken heart emoji alongside the hashtag #bitcoin, implying that he broke up with the world’s leading crypto. He later followed up that tweet with a post hinting at some market crash.
The messages caused panic in the market, sending the value of the king coin tumbling. The BTC price dipped to $35,814 on Friday morning, down from a high of over $39,000 the night before.