Musk changed his name on Twitter, and the cryptocurrency of the same name was born quickly, soaring 800% in 6 hours
Musk renamed Lorde Edge on Twitter The cryptocurrency of the same name was born quickly On Sunday, Eastern Time, Tesla CEO Elon Musk changed his Twitter People quickly used this name, and the cryptocurrency named "Lorde Edge" was born quickly and officially started trading last night, Beijing time. But some people think that this new name has nothing to do with cryptocurrency. Instead, according to Webster's Dictionary, some Twitter users said that Musk's new name might refer to "edge lord," an Internet slang term referring to a person who desires attention or acts boldly or unconventionally people. Although there is no indication that Musk himself has any connection with this digital currency, the price of this encrypted currency has been pushed up quickly.name to "Lorde Edge." It is worth noting that the market value of this newly born cryptocurrency is still minimal, so it is easy to skyrocket and plummet. 6 hours skyrocketing 842% Then it quickly plummeted by nearly 80% According to coinmarketcap data, at around 6:48 pm on Sunday, November 8th, Beijing time, the cryptocurrency named Loder Edge officially started trading, and the price was around US$0.00000313 at that time. The cryptocurrency skyrocketed the night before. In the early hours of yesterday, at around 0:48, the price of this cryptocurrency once touched $0.00002948, which was 842% higher than when it started trading. This means that in about 6 hours, this cryptocurrency has skyrocketed by more than eight times. However, the rising trend of this cryptocurrency could not be maintained. In the early hours of yesterday morning, the cryptocurrency plummeted after hitting an intraday high. At around 1:53 am on the 9th, this cryptocurrency quickly fell to $0.000006858, a 76.74% drop compared to the intraday high. At around 10:30 am yesterday, the cryptocurrency fell to 0.000006086 US dollars, a plunge of 79.35% from the intraday high. Dogecoin is also hitting hot spots Once soaring over 9% Musk did not explain the reason for the short name change of Twitter, and there are many kinds of speculation on the market. The founder of Dogecoin said on Twitter that "Lorde edge" is an anagram of "elder doge" (that is, words with the same letters but different alphabetical order). The founder of Dogecoin also pointed out that this does not mean that Musk changed his name on purpose, but "Lorde edge" is indeed an anagram of "elder doge." In the comments made by the founder of Dogecoin on Twitter, many believe that Musk is concealing Dogecoin again, and some netizens expect Dogecoin to rise accordingly. Dogecoin also succeeded in catching up with the hot spot. It broke through $0.29 on the 8th. Compared with the closing price of 0.2653 on the 7th, it rose by more than 9%. Musk has repeatedly expressed his support for the development of Dogecoin. Yesterday, Dogecoin announced the release of the Dogecoin Core 1.14.5 upgrade. Following the reduction of the relay fee in 1.14.4, 1.14.5 reduced the recommended fee and included bug fixes and performance improvements. In this regard, Tesla CEO and the world's richest man Elon Musk reposted and commented on Twitter: "This is important." In October, Musk also tweeted that he planned to build a university in Texas called Texas Institute of Technology. He also stated in a reply that the university's tuition fees would be paid in Dogecoin, adding that if you are a dog owner, you can also get a discount. Small market capitalization cryptocurrencies are prone to skyrocketing and plummeting Investors need to be aware of risks Like stocks with small market capitalizations, cryptocurrencies with small market capitalizations will also face liquidity, price volatility, and other issues. Investors must remember not to be dazzled by high yields because cryptocurrencies often plummet rapidly after they skyrocket. On October 26, the Squid Coin (SQUID), named after the hot drama "Squid Game" officially began trading. The cryptocurrency was issued for $0.01, and the price soared to $2,856.64 on November 1. But after the price peaked, it quickly plummeted to only $0.0008 within a few minutes, and the value was almost zero. Data shows that when the squid coin plummeted, the currency holders exceeded 46,000. CoinMarketCap also warned that Netflix did not officially launch the project but just used the same name. The price of the cryptocurrency Dogelon Mars named after Tesla CEO Musk has also skyrocketed and plummeted. In the early morning of October 31, the cryptocurrency's price once rose to 0.000002587 USD, an increase of more than 333% within 24 hours. But on November 5, the cryptocurrency price fell to $0.0000008889, a drop of more than 65%.
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