In a remarkable surge, tokens inspired by SpaceX have skyrocketed by 5824% following the successful test launch of the Starship on October 13. While these tokens are not officially affiliated with Elon Musk’s space venture, their prices have surged dramatically in the wake of the launch.
On October 14, the cryptocurrency tokens SpaceX and StarShip experienced significant price increases, driven by the excitement surrounding SpaceX’s latest megarocket launch. According to data from CoinMarketCap, the PancakeSwap-based token SPACEX saw its price explode by 5824% in just 24 hours, bringing its market capitalization to approximately $80,800, with a trading price of $0.012192 at the time of reporting.
Another token, also named SpaceX but powered by Solana (SOL), experienced a 216% increase in price over the same period, although it later dropped to 84.56% of its peak. Despite this decline, it has managed to retain a market cap of $16,400.
Additionally, the NFT-game token StarShip, named after SpaceX’s newly launched rocket, saw a brief price increase of 0.9% following the launch. As of now, the StarShip token is priced at $0.0215, boasting a market cap of $404,251.
Another token associated with the spacecraft has emerged on the Ethereum blockchain, although price fluctuations for this token have not yet been recorded on available platforms.
According to a report from the Associated Press, the 400-foot Starship rocket lifted off near the Mexican border at sunrise on October 13, successfully arcing over the Gulf of Mexico. Unlike previous Starship launches that ended in failure, this test flight concluded successfully as the rocket was caught by the launch tower’s metal arms, known as “chopsticks.”
SpaceX CEO Elon Musk shared insights on X about the design of the megarocket, stating it is equipped with a booster capable of reflight within an hour of launch. “The booster returns within ~5 minutes, so the remaining time is reloading propellant and placing a ship on top of the booster,” Musk explained.
Although Musk has not created any official cryptocurrency tokens, he wields considerable influence in the crypto world. His support for Dogecoin and other tokens has led to substantial price spikes, with brief posts on X often resulting in double-digit gains for Bitcoin, Dogecoin, and SHIBA INU.
In a previous incident on April 8, fraudulent deepfake videos of Musk circulated on YouTube, enticing viewers to participate in fake SpaceX giveaways disguised as live streams related to a solar eclipse event.
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