Crypto: Elon Musk causes an avalanche of 169 shitcoins because of a tweet

News hardware Crypto: Elon Musk causes an avalanche of 169 shitcoins because of a tweet

Just after concluding the takeover transaction of the Twitter network, Elon Musk is already starting to have fun with his tweets in reference to cryptos… Tuesday, November 1, the new boss of Twitter to publish a tweet which had a snowball effect, causing the creation of 169 cryptocurrencies, among others.

Elon Musk sparks a crypto industry frenzy

A few days after completing the purchase of Twitter and being named “Chief Twit”, the CEO of Tesla posted a tweet with an image featuring a dog with a Twitter logo t-shirt and a pumpkin.

With these elements, one wonders why the crypto sphere is so excited for a little reference to Halloween?

For some time now, the American billionaire has been having fun communicating regularly on Twitter about his favorite crypto: Dogecoin (DOGE). These various interventions are often the subject of a disproportionate reaction in the crypto markets. Indeed, DOGE cryptocurrency prices generally go on a roller coaster after Elon Musk’s statements.

In the wake of his recent acquisition of Twitter, there is a strong possibility that this trend will be exacerbated, as evidenced by the reaction to his latest tweet…

Elon Musk provokes the creation of 169 shitcoins following a simple tweet

On the heels of the Tweet, firstly, the Doge’s course exploded, but that’s not all…. With his intervention, Elon Musk gave birth to 169 cryptocurrencies without even knowing it.

Indeed, the references present in the photo have allowed a string of cunning individuals to surf the trend by creating various cryptocurrencies, alluding to Twitter, DOGE or even Halloween. In total, PeckShieldAlert counts no less than 169 cryptocurrencies that have appeared on the blockchain (BSC and ETH) following Elon Musk’s tweet.

Among them, we find the DogeTwitter, the HalloweenDoge or the TwitDogeZilla. The least we can say is that the creators are not lacking in inventiveness to find the names of their “precious”.

Nevertheless, despite the “genius” of their creators, cryptos have had a low life expectancy. Indeed, a few hours after the tweet, almost all of his cryptocurrencies were worth 0€.

This lightning reaction is not surprising coming from “shitcoins”. As a reminder, these cryptographic tokens are simple to create since they exploit the network of a cryptocurrency (in this case Ethereum or Binance). These tokens generally have no use and are surfing on a trend, a meme or even current events.

In this sense, they represent a real trap for Sunday investors because of their insane volatility. Following the tweet, it’s a safe bet that several fans of Elon Musk or Doge remained on the straw by buying one of these famous 169 shitcoins.

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