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Home / Markets / Cryptocurrency /  Elon Musk at it again: Adult-themed cryptos rally

MUMBAI: The cryptocurrency market is getting stranger by the day, and the person behind most of its oddity over the past few months is Tesla chief Elon Musk.

On Friday, as Bitcoin looked set to recapture the $40,000 level, Musk tweeted a broken-heart emoji for the token. The result was a nearly 6% drop in the cryptocurrency to near $36,000.

However, another cryptic tweet boosted prices of two adult-theme based digital assets. Musk wrote “Canada USA Mexico" without giving any reason or meaning behind his tweet.

The followers of the auto billionaire deciphered that Musk was referencing to the crypto assets that start with the first letters of these three countries.

Consequently, CumRocketCrypto, which trades with the ticker symbol of (CUMMIES) zoomed over 150% during the 24-hour period to trade at $0.09475, at around 1.25pm IST, according to data tracker CoinMarketCap.com. Launched in April 2021, CumRocketCrypto is a blockchain-based project aiming to revolutioniSe the adult content industry. The token has a market cap of $112 million and is the 295th biggest crypto token.

Another Shiba Inu-based meme currency, CumInu, also surged post Must’s cryptic tweet. The token surged as much as 170% for the 24-hour period and was trading at $0.0019. The token was ranked at the 2629 spot at current price levels. CumInu is also adult-theme based token and started trading on 26 May 2021.

In the past, Musk’s tweets had pushed the world’s largest cryptocurrency, Bitcoin, to beyond the $60,000 level. However, his recent falling out with the token over power consumption concerns has resulted in the asset falling below the $30,000.

Musk's love for the Shiba Inu-based meme currency, Dogecoin, has caused a spike in its price. From an unknown name, the token today commands a market capitalisation of over $47 billion and is the sixth biggest digital currency in the world.

Meanwhile, Dogecoin traded 15% lower at $0.3606 over the last 24 hours and has delivered over 14,088% return over the last year. From largely taken-as-a-joke cryptocurrency, Dogecoin in recent times has been gaining widespread acceptance. On Thursday, it started trading on Coinbase, which is the first crypto exchange to list in the US.

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