SpaceX crypto imitation tokens, not affiliated with the company, have soared more than 5,824% after the successful test launch of SpaceX's Starship on Sunday.
On October 14, the prices of the SpaceX and StarShip cryptocurrency tokens took off following the launch of SpaceX's new Starship megarocket, which passed its test flight last Sunday.
Although these tokens are not affiliated with Elon MuskFor the space technology company, the launch of the huge rocket that made the news was enough to boost the prices of these copycat tokens on different platforms.
According to data on CoinMarketCapPancakeSwap-powered SPACEX token saw its price skyrocket 5,824% in the last 24 hours of trading. SPACEX's market capitalization currently stands at $80,800 and is selling for $0.012192 at the time of writing.
Meanwhile, another token with the same name, the Solana-powered SpaceX (SOL), skyrocketed 216% in the last 24 hours, according to CoinMarketCap. At the time of writing, the token has plummeted to 84.56%. Despite this drop, it has maintained a market capitalization of $16,400.
An nft gaming token bearing the same name as SpaceX's newly launched megarocket, StarShip, also saw a brief price increase of 0.9% after launch, according to CoinGecko. StarShip price is now $0.0215 with a market cap of $404,251.
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Another token dedicated to the spaceship was also created on the ethereum (eth) blockchain according to CoinMarketCapbut the platforms have yet to track the price fluctuations of the token.
Based on a report from Associated PressThe 400-foot-tall Starship rocket lifted off at dawn on October 13 near the Mexican border. The rocket arced over the Gulf of Mexico, following a similar pattern to the four previous Starships that ended up being destroyed. However, this Starship did not share that fate.
Upon returning to the launch base, the rocket was successfully trapped by the metal arms of the launch tower, called sticks.
SpaceX CEO and CTO Elon Musk said in x.com/elonmusk/status/1845633730154545465″ target=”_blank”>a post that the megarocket was designed with a booster that can take off again an hour after launch.
“The booster returns in ~5 minutes, so the remaining time is to reload the booster and place a ship on top of the booster,” Musk explained.
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Elon Musk has been known for his influence in the cryptosphere, despite not having created any official tokens. He has been an avid supporter of Dogecoin, and the billionaire even supported a space mission funded by the Dogecoin cryptocurrency that was delayed last year.
His short posts on x have inspired double-digit gains for bitcoin, Dogecoin, and SHIBA INU on multiple occasions.
On April 8, several deepfake videos of Musk scammed viewers into participating in fake Space
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