Elon Musk Triggers Surprise 5000% Bitcoin Rival Crypto Price Surge

by James · May 11, 2023

TeslaTSLA billionaire and Twitter owner Elon Musk has a long history of driving up the prices of various cryptocurrencies – not least his “favorite” bitcoin rival dogecoin which has been overshadowed recently.

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Bitcoin’s price has been left in the dust by a handful of so-called memecoins in recent weeks as traders pile into viral cryptocurrencies designed to climb with the attention they receive.

Now, a new cryptocurrency linked to the milady non-fungible token (NFT) collection has seen a 5,000% price rocket after Musk posted a meme on Twitter featuring one of the NFT avatars.

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helped the price of bitcoin climb with his hip tweets, as well as dogecoin and other meme-based cryptocurrencies.

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“It’s not a meme, I love you,” captioned the anime-style picture of Musk posted to Twitter read, with the price of the newly created milady meme coin climbing sharply in the past 24 hours.

The Milady maker NFT collection was pushed to the top of NFT marketplace OpenSea’s trending section with the “floor” price – the lowest price for any NFT in a collection – rising to nearly $14,000 before falling back.

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The NFT collection has seen a huge price increase after Twitter owner Elon Musk posted a photo with one of NFT’s avatars.

Coin base

Various viral memecoins, including Pepe the frog-based pepe and dogecoin-inspired floki, have seen huge rallies in recent weeks, aided by a shock Binance announcement.

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I am a journalist with significant experience in technology, finance, economics and business around the world. As founding editor of Verdict.co.uk, I reported on how technology is changing business, political trends and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its rise from a niche technology to the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for, among others, CityAM, the Financial Times and the New Statesman. Follow me on Twitter @billybambrough or email me at billyATbillybambrough.com. Disclosure: I occasionally hold a small amount of bitcoin and other cryptocurrencies.