Elon Musk, the CEO of Tesla and SpaceX, is also one of the important figures in the cryptocurrency market. Although he does not hold an official CEO position in the Dogecoin project, crypto investors refer to him as the unofficial CEO of Dogecoin.
In early April of this year, Elon Musk changed Twitter’s logo to the Dogecoin logo, and Dogecoin’s price increased by nearly 50%.
Elon Musk continues to manipulate the cryptocurrency market!
Today, Elon Musk tweeted with only the words “Cult/Culture,” and the local token of Cult DAO, $CULT, experienced an increase of nearly 150%.
Cult DAO is a blockchain project and a token that aims to create a community-centered ecosystem. The CULT token is used for value transfer among users on the platform.
What’s the connection between Elon Musk and the Cult DAO team?
Although this tweet caused a significant increase in the price of the CULT token, Elon Musk did not make any statements regarding this tweet. There also seems to be no current connection between Musk and the Cult DAO team.
As a result, Elon Musk’s manipulations in the cryptocurrency market continue, and his tweets cause significant increases or decreases in the prices of cryptocurrencies. Therefore, his statements and tweets are closely monitored by cryptocurrency investors.