In a surprising turn of events, a coin called $HARRYBOLZ, issued four days ago, has risen to $25 million after Elon Musk changed his name to Harry Bōlz.
According to data from Onchain Lens, four days ago, an insider whale going by the handle “i❤️jeeting.sol” paid 25 $SOL ($4,819) to purchase 128.77M $HARRYBOLZ.
Subsequently, this insider whale sold 109.8 million for 3,650 $SOL, or $739k. The insider whale still has $150,000 worth of 18.97 million in $HARRYBOLZ.
Elon Musk’s Name Change Creates Market Frenzy
The recent alteration of Elon Musk’s name to “Harry Bōlz” has generated a lot of discussion and attention on social media and in mainstream publications.
The internet tycoon, who is notorious for his erratic behavior and frequent online stunts, seems to have pulled off the contentious but fun trick.
Although Musk hasn’t given a thorough explanation, many people assume that the name change is a part of his continuous attempts to attract attention, fit in with his outlandish persona, or even make fun of conventional social mores.
Due to Musk’s considerable influence, the name change swiftly gained popularity and elicited responses ranging from confusion to laughter. It’s another instance of Musk’s ability to grab the public’s interest, whether it’s a passing jest or a more profound statement.
Musk’s Name Change Usually Helps Crypto Tokens
Market buzz is frequently the result of Musk’s influence, and tokens like Dogecoin and Shiba Inu profit from his focus. In the cryptocurrency world, his activities usually have a cascading effect, attracting investors to tokens linked to him, increasing demand and prices.
The recent name change of Elon Musk to “Harry Bōlz” has drawn attention to the $HARRYBOLZ token, a new and extremely speculative cryptocurrency.
Many saw the token’s rapid rise to popularity as a playful attempt to capitalize on Musk’s name change and his propensity for creating viral phenomena. Like projects like Dogecoin or Shiba Inu, which are known for their high volatility and speculative trading, $HARRYBOLZ is frequently classified as a meme coin.
Musk’s influence, community involvement, and social media excitement all contribute significantly to its worth. However, given the inherent hazards of large price swings and the lack of any underlying utility, prospective investors should proceed cautiously, as is the case with the majority of meme-based tokens.
Additionally, the current hype around the token has given it a rise but it will need much more than that to sustain its gains.