Elon Musk continues to influence the crypto money markets with his tweets, knowingly or unknowingly. Tesla, Twitter, and SpaceX CEO tweeted “Cult/Culture” this morning. Following this tweet, CULT, the own token of Cult DAO, a decentralized venture capital platform, posted a 138% rise.
It is not known why Musk made such a tweet, as in many of his posts. However, it is certain that previous shares resembling cryptocurrencies also caused similar price movements… CULT DAO also increased from 0.000004200 to $0.000010000 after Musk’s share.
In particular, Musk, who changed Twitter’s logo to Dogecoin in the past weeks and then turned to the “blue bird” again, was targeted by manipulation allegations. Musk had a large share in the rise of crypto money markets, especially in 2021 with his tweets about Bitcoin and then Dogecoin. In fact, the move that resulted in the fall of Bitcoin in May 2021 came when Musk tweeted that he was suspending BTC and Tesla sales. Tesla still has not started selling vehicles with Bitcoin.
Musk, who is the richest businessman in the world, is also known to support Dogecoin and its foundation. While the Tesla company sold most of its Bitcoins last year, it did not sell Dogecoins.