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Elon Musk Fuels ASTEROID Crypto Frenzy, Scores 500X Windfall For One Trader

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Asteroid Shiba (ASTEROID) Price Performance

Asteroid Shiba (ASTEROID) gained over 45,000% in 24 hours while Asteroid Bot (ASTEROIDBOT) rallied 15% in the same timeframe. The rally followed Elon Musk’s response to a viral post linking the token to SpaceX’s Polaris Dawn mission.

The move started after radio host Glenn Beck shared Liv Perrotto’s story. The teenager designed a plush Shiba Inu named Asteroid.

Musk’s Reply Ignites Speculative Trading

The Asteroid flew as the zero-gravity indicator on SpaceX’s Polaris Dawn mission in 2024. Perrotto passed away from cancer, leaving behind a list of unanswered questions for Musk.

Among her questions was whether Asteroid could become SpaceX’s official mascot.

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Musk responded with “Will answer shortly,” and speculative traders moved within minutes. One meme coin, ASTEROID, rallied by 44,923% while another, and was trading for $0.00005668 as of this writing.

Asteroid Shiba (ASTEROID) Price Performance
Asteroid Shiba (ASTEROID) Price Performance. Source: Coingecko

Elsewhere, blockchain analytics firm Arkham identified several traders who profited from the move.

  • One swapped 1 ETH into an ASTEROID token position now worth nearly $474,000 within three hours.
  • Another early buyer generated $210,000 in profit while still holding $84,000 in the token.
  • A dormant holder who spent $21,390 buying ASTEROID at launch in September 2024 has not moved tokens for three months. That position is now worth roughly $370,000.

Sell-Off Risk Grows

The concentration of gains among a small number of wallets raises the prospect of a sharp correction. If early holders begin taking profit, the thin liquidity typical of low-cap meme tokens could amplify any downturn.

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Meanwhile, Asteroid Bot (ASTEROIDBOT), a separate token riding the same narrative, posted a more modest 15% gain

Asteroid Bot (ASTEROIDBOT) Price Performance
Asteroid Bot (ASTEROIDBOT) Price Performance. Source: Coingecko

.Whether Musk’s eventual answer to Perrotto’s questions sustains or deflates the speculative interest remains the key variable for ASTEROID’s near-term direction.

The post Elon Musk Fuels ASTEROID Crypto Frenzy, Scores 500X Windfall For One Trader appeared first on BeInCrypto.

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Crypto World

X’s Cashtags Feature Drives $1B Trading Volume

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X’s Cashtags Feature Drives $1B Trading Volume

Social media platform X has already generated roughly $1 billion in trading volume from its new Cashtags feature, which allows users to view stock and crypto data directly from the app.

In a post to X on Friday, the company’s head of product, Nikita Bier, said the estimated $1 billion in trading volume was reached after launching on Tuesday night, citing data aggregated from X’s trading pilot.

The new feature — currently only available to US and Canadian users on iPhones — is part of Elon Musk’s vision of turning X into an “everything app,” including peer-to-peer payments and e-commerce.

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X sees more than 550 million users each month, positioning it as one of the largest social media platforms globally and giving it the ability to compete with established financial information providers in delivering market-related content and data.

Cashtags allow users to select a specific asset or smart contract address when posting a ticker, and tapping a tag displays live price charts and related posts.

Online brokerage Wealthsimple partnered with X to integrate the Cashtag feature, enabling Canadians to click on crypto and stock tickers and be taken directly to its trading platform.

The Cashtags feature hasn’t been integrated with a US brokerage yet.

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X Money is coming too

Musk’s company also has X Money in the pipeline, a peer-to-peer payments system that seeks to offer yield-bearing accounts, a cashback debit card and other perks.

X rolled out an external beta of X Money in early March, showing payments between Musk and Hollywood actor William Shatner, who played Captain Kirk in the original Star Trek series.

Related: X mulls new rules for first-time crypto posts amid tortoise scam

The integration of crypto payments into X Money remains a mystery, however.

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Over the last few years, X has secured money transmitter licenses in over 40 US states and registered with the Financial Crimes Enforcement Network to make peer-to-peer payments possible on the platform.

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