While crypto has no shortage of influential figures, no one is more prominent than Elon Musk. With coins like Dogecoin and Floki Inu so entrenched with the man, they might as well be categorised as ‘Elon Musk crypto.’ The recent SpaceX News of Elon Musk selling the company’s Bitcoin holdings is perhaps the most noteworthy story in crypto news today. This article delves into Elon Musk crypto: the impact one person can have on the broader altcoin market for Dogecoin (Doge), Floki Inu (FLOKI), and Elonator (ETOR). The latter is a new player tied to Elon Musk, with immense potential for community-driven success.
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Musk’s Crypto Influence: A Catalyst for Altcoin Ascendance
Indeed, if ‘Elon Musk crypto’ were a crypto asset class category, DOGE would be the largest. With a market cap of over $9 billion, it competes on a meme coin class of its own. Recently, it was announced that Tesla had added DOGE to its online payment portal allowing customers to pay in DOGE. So on the back of that and with crypto news today stating an entire divestment of Bitcoin holdings by SpaceX, this indicates that DOGE’s token value can be on the rise. Bitcoin, the pioneer cryptocurrency, with a market cap of over half a trillion dollars, and the fact that Elon Musk can influence it shows his influence. Furthermore, from the three meme coins in discussion, none has had such a direct impact from Musk himself than DOGE.
Second Largest Coin In ‘Elon Musk Crypto’: Floki Inu
In light of Space X’s divestment of its BTC holding, FLOKI emerges as another cryptocurrency poised to capitalise on this shift. . Between DOGE and FLOKI, during 2023, FLOKI peaked higher than DOGE, at times as high as 200%. Particularly when Musk posted this tweet. The token value of DOGE only soared by 7%, showing the growing influence FLOKI seems to have. Its market cap is vastly less than DOGE at around $223 million. Therefore, it leads to speculation that FLOKI may ascend faster than DOGE. With DOGE’s higher market cap, in contrast, indicating market saturation. Nevertheless, for investors in a dilemma on whether to go with either, ETOR portrays a lower-risk alternative.
Elonator: The New ‘Elon Musk Crypto’ On The Block
Elonator (ETOR) is geared to be among the top ‘Elon Musk Crypto’ meme coins in time to come owing to its vision. It seeks to build a crypto community that, up to this point, has not materialised in the crypto market. ETOR is a wholly community-driven cryptocurrency. It has various community growth and engagement product features, ranging from lotteries to NFT competitions, and a unique staking model. Furthermore, in tandem with the product features are its security features. These include anti-whale dumping mechanisms and smart contracts preventing bots. While DOGE and FLOKI offer more ROI-led prospects, ETOR introduces sustainability to this mix. Investors of the future are no longer concerned about ROI solely but rather a broad product offering combined with security.
Final Thoughts
Each of the tokens discussed as ‘Elon Musk Crypto’ can lay claim to the impact Elon has had on all of them; however, in some, especially the older ones like DOGE, some may argue the influence is waning. Investors’ interest, like consumer interest in other markets, constantly changes. While ROI is attractive, it may not be sufficient to retain, sustain and grow cryptocurrencies. It is this gap that Elonator uniquely targets and aims to build a following, leveraging Elon Musk’s dynamism. Follow for more updates the ETOR Twitter feed.
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