As a seasoned crypto investor with over a decade of experience under my belt, I must say that the recent surge in SpaceX and Starship copycat tokens has left me both amused and slightly skeptical. The astronomical increase in price for SPACEX on PancakeSwap is nothing short of astounding, but it’s important to remember that these tokens are not officially affiliated with Elon Musk or SpaceX.
Non-affiliated tokens imitating SpaceX’s cryptocurrency have skyrocketed by over 5800%, following the successful test launch of SpaceX’s Starship on Sunday.
On October 14th, the prices of cryptocurrency tokens related to SpaceX and StarShip soared following the successful test flight of SpaceX’s latest megaramet, the Starship, on Sunday.
Even though these tokens have no connection to Elon Musk’s space technology firm, the spectacular launch of the massive rocket drew significant attention, causing a surge in the value of similar tokens across various trading platforms.
Based on CoinMarketCap’s data, the price of the token SPACEX, which operates on PancakeSwap, has experienced a staggering increase of approximately 5824% in the previous 24 hours of trading. At present, its market capitalization is valued at $80,800, and it’s being traded at $0.012192 as I write this.
Simultaneously, a different token called Solana-powered SpaceX experienced a surge of 216% over the past 24 hours, as reported by CoinMarketCap. However, at the time this text was written, the token had already fallen to 84.56%. Remarkably, it has managed to retain a market capitalization of $16,400 despite this decrease.
A token for an NFT game, sharing the name with SpaceX’s recently launched massive rocket, Starship, experienced a short surge in its value by 0.9% following the launch, as reported on CoinGecko. Currently, the price of Starship stands at $0.0215 with a market capitalization of $404,251.
A new token associated with the spaceship has been minted on the Ethereum (ETH) blockchain, as reported by CoinMarketCap. However, these platforms have not yet started monitoring changes in the token’s value.
According to an Associated Press report, a 400-foot tall Starship rocket took flight on October 13 at sunrise, not far from the Mexican border. It soared over the Gulf of Mexico, mirroring the trajectory of the four previous Starships which ultimately met their destruction. However, unlike its predecessors, this particular Starship escaped that unfortunate end.
After landing back at the launch site, the rocket was skillfully grasped by the metallic limbs, often called “chopsticks,” of the launch platform.
As a researcher documenting recent space industry news, I’d like to highlight a significant announcement made by Elon Musk, the CEO and CTO of SpaceX, in one of their official posts. In essence, he revealed that the design of our megarocket incorporates a booster system capable of returning to flight within an hour after its initial launch.
Musk stated that since the booster comes back in about 5 minutes, it’s spending that time refueling and positioning another spacecraft on top of the booster,” he said.
After examining the Starship booster, it’s now securely fastened back onto its launch platform by the robotic arms. It looks fantastic! However, there are a few minor issues such as some engine nozzles being slightly warped due to heat and a couple of other small problems, but these can be easily resolved. The Starship is engineered for repeated use of its rocket.
— Elon Musk (@elonmusk) October 14, 2024
Elon Musk is well-known for his impact within the world of cryptocurrencies, although he hasn’t created any official tokens himself. Instead, he has been a strong advocate for Dogecoin, going so far as to support a space voyage financed by the digital currency Dogecoin – though this mission faced a delay in 2021.
On several instances, his concise updates about X have sparked substantial increases in the value of Bitcoin, Dogecoin, and SHIBA INU, amounting to more than ten percent each time.
On April 8th, numerous deepfake videos featuring Elon Musk emerged, tricking viewers into participating in sham SpaceX giveaways on YouTube, which were presented as live streams revolving around the ongoing solar eclipse event.
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2024-10-14 10:26