A seemingly innocuous post from x owner Elon Musk appears to have helped push the price of the little-known non-playable currency (NPC) up by more than 32%.
On July 20, Musk posted a video of popular reporter and influencer Mario Nawfal on his x account. In the video, Nawfal engages in a discussion about NPC and explores how it stands out from other meme coins.
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NPC Analysis
The impact has been immense. Since that post was published, NPC’s price has skyrocketed by 32.1% at the time of writing. Its market cap has soared to a staggering $195 million in a matter of hours.
The momentum also meant that NPC gained on several other time frames. For example, NPC’s current price is a massive 67% improvement in seven days and a 21% increase in two weeks. However, it is still almost 20% below its all-time high price of $0.03003, recorded on June 23.
Today's performance also means that NPC is now substantially outperforming the overall cryptocurrency market, which is up 11% according to Gecko Coin.
Moreover, it is also doing better than other similar cryptocurrencies on the ethereum network, which have recorded an overall improvement of around 12%.
The NPC token is a hybrid between an nft and a meme inspired by a non-playable character meme. It can be traded as a non-fungible token or as a meme coin, and each NPC token is backed by an nft of the NPC meme.
The coin is available on ethereum via Uniswap and Coinbase’s layer-2 network, Base. It has a total supply of 8,050,126,520 NPC tokens, all of which were in circulation at launch.
The price increase was accompanied by a similar jump in the coin’s 24-hour trading volume, which rose 55% to $7,464,829.
