Elon Musk changes name on X to “Harry Bōlz”: the token HARRYBOLZ explodes by +1,000%

On his X profile, Elon Musk changed his name to “Harry Bōlz”, triggering a chain reaction in the crypto market. In a few hours, the HARRYBOLZ token recorded a surge of +1,000%. A phenomenon that once again highlights Musk’s influence on the cryptocurrency sector and the volatility of memecoin.  

Elon Musk is known for his unpredictable statements on social media and their impact on the markets. From his tweets about Dogecoin to his statements on Bitcoin, every move he makes is closely watched by investors. This time, a simple name change on his X profile was enough to trigger a rush for the HARRYBOLZ token.

Elon Musk becomes Harry Bōlz: what happened to the price of the HARRYBOLZ token?

After Musk’s name change, the price of the HARRYBOLZ token skyrocketed by +1,000% in a few hours. According to data from CoinMarketCap, the token experienced a surge in trading volume, attracting both experienced traders and speculators looking for quick gains.

The event demonstrates how the crypto market, especially that of memecoins, is strongly influenced by external factors and prominent figures like Musk. The effect was similar to what happened in the past with Dogecoin, when his tweets led the token to reach new highs.

The phenomenon of memecoins and speculation  

Memecoins are known for their extreme volatility and for often being driven by social trends rather than solid fundamentals. Tokens like HARRYBOLZ often emerge from nowhere and can experience exponential growth following viral events, only to undergo sharp corrections.  

The immediate reaction to Musk’s name change highlights how many investors are ready to speculate on his every move. However, the lack of a real project behind these tokens makes them highly risky.  

Memecoins put the entire crypto sector at risk

Although some traders have made significant profits thanks to the surge of HARRYBOLZ, the risk of a sudden crash remains high. The history of memecoins is full of examples of boom and bust, where the value of a token inflates rapidly only to deflate just as quickly.  

Investors should pay attention to these phenomena and avoid getting caught up in the euphoria of the moment. The main lesson? The volatility of memecoins is a double-edged sword, and following trends based on random events can lead to quick gains but also significant losses.  

Conclusion  

The episode of HARRYBOLZ once again demonstrates the influence of Elon Musk on the crypto markets and the speculative nature of memecoins. His simple name change on X triggered a domino effect that inflated the token’s value in a few hours. However, as has happened in the past, the sustainability of these surges is yet to be verified. For those investing in criptovalute, it is essential to maintain a critical approach and not get carried away by the enthusiasm of the moment.