On 14 October, copycat cryptocurrencies named after SpaceX surged after the profitable check launch of Elon Musk’s Starship. The cash that aren’t affiliated with Musk’s aerospace agency, SpaceX, garnered large worth spikes throughout the platform from the eye gained through the launch.
The massive winner maybe was SPACEX, a token primarily based on PancakeSwap that went up by a whopping 5,824% in 24 hours with its worth rising to $0.012192 and resulting in its market cap to hit $80,800.
One other token named after SpaceX, one that’s primarily based on the Solana (SOL) blockchain, additionally elevated in worth, going up 216% at its peak on the writing of writing, all whereas sustaining a market cap of $16,400.
Simply inspected the Starship booster, which the arms have now positioned again in its launch mount. Appears nice!
A number of outer engine nozzles are warped from heating & another minor points, however these are simply addressed.
Starship is designed to realize reflight of its rocket… pic.twitter.com/oWZoOOfHmk
— Elon Musk (@elonmusk) October 14, 2024
Comparable Tokens Observe Starship’s Flight Path
On the flip aspect, an NFT gaming token by the title of StarShip after SpaceX’s newly launched rocket, soared 0.9% earlier than leveling at $0.0215 with a market cap of $404,251. One other Ethereum (ETH) blockchain-based token themed after the Starship rocket was made however not tracked on main platforms concerning its worth strikes.
Other than injecting life again into cryptocurrencies, the precise Starship launch by SpaceX has been a technological mile-marker. The 400-foot-tall rocket launched close to the Mexican border and curved over the Gulf of Mexico.
This flight has confirmed to be higher than earlier ones because the rocket was caught upon return by the “chopsticks” arms of the launch tower, fairly than ending in an inferno like its predecessors.
The Advantages And Risks Of Musk’s Crypto Affect
Regardless of not being straight related to these tokens, Elon Musk has a definitive grip on the world of cryptocurrency. Already a Dogecoin champion, Musk’s brief social media messages on X (previously Twitter) have pushed fast will increase for Bitcoin, Dogecoin, and SHIBA INU up to now.
Mechazilla has caught the Tremendous Heavy booster! pic.twitter.com/6R5YatSVJX
— SpaceX (@SpaceX) October 13, 2024
In the meantime, Musk stated after the Starship flight, that the booster a part of the rocket may very well be able to launch in as little as an hour. “The booster returns inside 5 minutes, so the remaining time will probably be for reloading propellant and inserting a ship on high,” he defined.
Whereas Musk enjoys a excessive profile within the crypto neighborhood, his title has additionally been utilized by scammers for malicious functions. In April, we noticed an inflow of deepfake movies of Musk showing on YouTube, selling bogus SpaceX giveaways, which is coincidental as these occasions coincided with the photo voltaic eclipse that occurred on the identical day.
These scams symbolize a harmful side of the crypto market usually, additional emphasizing the dangers in the case of public figures whose affect garners each actual and false curiosity.
Featured picture from KHOU, chart from TradingView
