Often, the crypto volatility is cased by influencers and crypto whales who slyly manipulate the market by making suggestions or by their actions. Elon Musk is one of these influencers who have, time after time, caused major shifts in the crypto world using his tweets.
It looks like Musk is at it again with his Twitter profile picture change. The Tesla and SpaceX CEO recently changed his Twitter profile image with that of a Bored Ape Yacht Club’s Ape. In a recent tweet, Musk mentioned, “I dunno … seems kinda fungible,”
In his recent move, Musk put up a collage of BAYC NFTs as his Twitter picture, which led to a sudden increase in the price of ApeCoin. ApeCoin witnessed a 12.9% surge which was buoyant throughout the last month, surging at 47.6%.
Moreover, shortly after this change, Michael Bouhanna, a contemporary art specialist at Sotheby’s auction house, called him out for using the image on Twitter. Bouhanna claimed that he created the picture for Sotheby’s $24 Million sales of 101 Bored Apes in September last year, which prompted his tweet mentioned above.
Bored Ape Yacht Club
Bored Ape Yacht Club is one of the most surging NFT collections with interest and holdings from popular celebrities, including Jimmy Fallon, Serena Williams, and Snoop Dogg. The token ApeCoin was launched by Bored Ape creator Yuga Labs. Yuga Lab is currently facing scrutiny after the release of its metaverse project, The Otherside, which sold out all 55,000 Otherdeed lands NFTs within three hours.
Musk has been known to manipulate the market, be it with his favorite Dogecoin or BItcoin. Moreover, his tweets about any particular coin or project send the token price shooting up as investors pay heed to his subtle hints.
If the recent action of Musk is hinted at another big thing or was just an attempt to shake the market is yet to be discovered.