Elon Musk's Harry Bōlz Name Change Sparks HARRYBOLZ Token Frenzy
Elon Musk's latest display name change on X, this time to Harry Bōlz, has sparked a frenzy in the cryptocurrency world. The illiquid HARRYBOLZ token, based on SOL, surged by a staggering 127% before plummeting by 89.59%.
Musk's previous name changes have been known to trigger similar reactions. In January, his use of the KEKIUS name led to a surge in meme coin activity. This time, his choice of Harry Bōlz may be linked to Edward Coristine, a 19-year-old software engineer known online as 'Big Balls'. Coristine, who worked for Musk in the Department of Government Efficiency (DOGE), has a controversial past including being fired for leaking secrets and associations with cybercrime.
Following Musk's name change, the price of HARRYBOLZ surged to $0.025. However, a second token with the same name emerged, boasting a market capitalization of nearly $3 million but with fewer substantial gains. Despite the volatility, some investors have seen significant profits. One investor who bought $1,900 worth of HARRYBOLZ on launch day sold it for a $343,800 profit. Another trader, who invested $156 within the first two days, saw their investment grow to $52,000.
Elon Musk's name change to Harry Bōlz has once again demonstrated his influence on the cryptocurrency market. While the HARRYBOLZ token experienced a sharp surge and subsequent drop, some investors have reaped substantial profits. Musk's motivations remain unclear, but his actions continue to shape the meme coin landscape.
